Bearish flow noted in Western Alliance with 2,430 puts trading, or 1.0x expected. Most active are 3/8 weekly 52 puts and 3/8 weekly 53 puts, with total volume in those strikes near 1,100 contracts. The Put/Call Ratio is 2.86, while ATM IV is up over 2 points on the day. Earnings are expected on April 16th.
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