Bearish flow noted in American Eagle (AEO) with 4,276 puts trading, or 2x expected. Most active are Aug-25 12 puts and 7/11 weekly 9.5 puts, with total volume in those strikes near 2,000 contracts. The Put/Call Ratio is 2.38, while ATM IV is up nearly 3 points on the day. Earnings are expected on August 28th.
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