Bearish flow noted in AT&T (T) with 44,773 puts trading, or 1.5x expected. Most active are 6/6 weekly 27.5 puts and 6/6 weekly 27 puts, with total volume in those strikes near 22,500 contracts. The Put/Call Ratio is 2.16, while ATM IV is up over 2 points on the day. Earnings are expected on July 23rd.
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