Bearish flow noted in American Airlines (AAL) with 23,451 puts trading, or 1.0x expected. Most active are 3/7 weekly 12 puts and 3/14 weekly 16 puts, with total volume in those strikes near 12,800 contracts. The Put/Call Ratio is 1.60, while ATM IV is up over 2 points on the day. Earnings are expected on April 24th.
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