Bearish flow noted in Applied Optoelectronics (AAOI) with 4,219 puts trading, or 3x expected. Most active are 9/26 weekly 25.5 puts and 9/26 weekly 26 puts, with total volume in those strikes near 3,000 contracts. The Put/Call Ratio is 1.68, while ATM IV is up nearly 2 points on the day. Earnings are expected on November 6th.
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