Bearish flow noted in Wayfair (W) with 3,916 puts trading, or 2.0x expected. Most active are Aug-25 30 puts and 2/14 weekly 46 calls, with total volume in those strikes near 2,700 contracts. The Put/Call Ratio is 2.60, while ATM IV is up over 2 points on the day. Earnings are expected on February 20th.
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