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Avis Budget put volume heavy and directionally bearish

Avis Budget put volume heavy and directionally bearish

Bearish flow noted in Avis Budget (CAR) with 2,680 puts trading, or 1.1x expected. Most active are May-25 55 puts and 3/28 weekly 51 puts, with total volume in those strikes near 1,700 contracts. The Put/Call Ratio is 2.54, while ATM IV is up over 2 points on the day. Earnings are expected on April 30th.

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