Bearish flow noted in Affirm (AFRM) Holdings with 16,921 puts trading, or 1.7x expected. Most active are Feb-25 71 puts and 2/28 weekly 69 puts, with total volume in those strikes near 4,400 contracts. The Put/Call Ratio is 1.68, while ATM IV is up over 1 point on the day. Earnings are expected on May 7th.
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