Bearish flow noted in Altria Group (MO) with 6,577 puts trading, or 2.0x expected. Most active are Mar-25 52.5 puts and Jan-26 42.5 puts, with total volume in those strikes near 3,300 contracts. The Put/Call Ratio is 1.82, while ATM IV is up over 1 point on the day. Earnings are expected on January 30th.
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