Bearish flow noted in 3M (MMM) with 3,978 puts trading, or 1.0x expected. Most active are Jun-25 145 puts and Jun-25 140 puts, with total volume in those strikes near 730 contracts. The Put/Call Ratio is 1.62, while ATM IV is up nearly 8 points on the day. Earnings are expected on April 22nd.
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