Bearish flow noted in Western Alliance with 1,653 puts trading, or 1.4x expected. Most active are Apr-24 56 puts and Apr-24 50 puts, with total volume in those strikes near 590 contracts. The Put/Call Ratio is 3.22, while ATM IV is up nearly 2 points on the day. Earnings are expected on April 18th.
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Read More on WAL:
- WAL Earnings this Week: How Will it Perform?
- Western Alliance put volume heavy and directionally bearish
- Western Alliance call volume above normal and directionally bullish
- Western Alliance price target lowered to $70 from $80 at Jefferies
- Western Alliance price target lowered to $81 from $82 at UBS