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Ares Capital put volume heavy and directionally bearish

Bearish flow noted in Ares Capital with 3,053 puts trading, or 6x expected. Most active are Nov-23 19 puts and Nov-23 20 calls, with total volume in those strikes near 3,000 contracts. The Put/Call Ratio is 25.44, while ATM IV is up over 1 point on the day. Earnings are expected on October 24th.

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