Bearish flow noted in American Airlines (AAL) with 32,015 puts trading, or 1.4x expected. Most active are 4/2 weekly 10 puts and 4/2 weekly 10.5 calls, with total volume in those strikes near 11,800 contracts. The Put/Call Ratio is 1.76, while ATM IV is up over 3 points on the day. Earnings are expected on April 23rd.
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