Aurinia Pharmaceuticals put volume heavy and directionally bearish

Bearish flow noted in Aurinia Pharmaceuticals with 1,104 puts trading, or 2x expected. Most active are Dec-23 7 puts and Nov-23 8 puts, with total volume in those strikes near 910 contracts. The Put/Call Ratio is 2.41, while ATM IV is up over 10 points on the day. Earnings are expected on November 2nd.

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