Bearish flow noted in Amer Sports (AS) Inc with 2,103 puts trading, or 4x expected. Most active are Dec-25 37.5 puts and Nov-25 35 puts, with total volume in those strikes near 2,000 contracts. The Put/Call Ratio is 2.28, while ATM IV is up nearly 2 points on the day. Earnings are expected on February 24th.
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