Bearish flow noted in American Airlines (AAL) with 55,923 puts trading, or 3x expected. Most active are Apr-26 10 puts and 3/6 weekly 12.5 calls, with total volume in those strikes near 32,700 contracts. The Put/Call Ratio is 1.57, while ATM IV is up over 5 points on the day. Earnings are expected on April 23rd.
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