Bearish flow noted in American Express (AXP) with 7,586 puts trading, or 2.0x expected. Most active are 9/5 weekly 317.5 puts and Sep-25 320 puts, with total volume in those strikes near 3,200 contracts. The Put/Call Ratio is 1.84, while ATM IV is up nearly 2 points on the day. Earnings are expected on October 17th.
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