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Apollo Global put volume heavy and directionally bearish

Bearish flow noted in Apollo Global with 8,003 puts trading, or 4x expected. Most active are Jan-26 160 calls and Feb-24 108 puts, with total volume in those strikes near 5,000 contracts. The Put/Call Ratio is 1.51, while ATM IV is up nearly 2 points on the day. Earnings are expected on May 7th.

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