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Ardelyx put volume heavy and directionally bearish
The Fly

Ardelyx put volume heavy and directionally bearish

Bearish flow noted in Ardelyx with 3,718 puts trading, or 11x expected. Most active are Apr-24 9 puts and Jan-25 5.5 puts, with total volume in those strikes near 3,600 contracts. The Put/Call Ratio is 2.17, while ATM IV is up nearly 3 points on the day. Earnings are expected on February 29th.

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