Bearish flow noted in Applied Materials (AMAT) with 5,404 puts trading, or 1.0x expected. Most active are Jun-26 160 puts and 5/8 weekly 215 puts, with total volume in those strikes near 1,000 contracts. The Put/Call Ratio is 2.92, while ATM IV is up over 1 point on the day. Earnings are expected on May 14th.
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