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Amgen put volume heavy and directionally bearish

Bearish flow noted in Amgen (AMGN) with 3,010 puts trading, or 1.5x expected. Most active are May-26 345 puts and Apr-26 320 puts, with total volume in those strikes near 1,100 contracts. The Put/Call Ratio is 2.49, while ATM IV is up over 1 point on the day. Earnings are expected on April 30th.

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