Bearish flow noted in Western Alliance with 25,938 puts trading, or 7x expected. Most active are 5/5 weekly 30 puts and 5/5 weekly 40 calls, with total volume in those strikes near 5,700 contracts. The Put/Call Ratio is 2.56, while ATM IV is up over 114 points on the day. Earnings are expected on July 20th.
Published first on TheFly
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