Bearish flow noted in Advance Auto Parts (AAP) with 2,641 puts trading, or 4x expected. Most active are Jun-26 40 puts and Jun-26 85 calls, with total volume in those strikes near 2,600 contracts. The Put/Call Ratio is 2.70, while ATM IV is up nearly 3 points on the day. Earnings are expected on May 21st.
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