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AstraZeneca put volume heavy and directionally bearish

Bearish flow noted in AstraZeneca (AZN) with 1,393 puts trading, or 1.1x expected. Most active are Jun-26 90 puts and Jan-26 80 calls, with total volume in those strikes near 1,500 contracts. The Put/Call Ratio is 1.72, while ATM IV is up nearly 2 points on the day. Earnings are expected on February 10th.

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