Bearish flow noted in Advance Auto Parts (AAP) with 3,400 puts trading, or 6x expected. Most active are Feb-26 32.5 puts and 2/6 weekly 50 puts, with total volume in those strikes near 2,700 contracts. The Put/Call Ratio is 2.30, while ATM IV is up over 4 points on the day. Earnings are expected on February 13th.
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