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Bank of America put volume heavy and directionally bearish

Bank of America put volume heavy and directionally bearish

Bearish flow noted in Bank of America (BAC) with 59,988 puts trading, or 1.1x expected. Most active are 3/28 weekly 41.5 puts and 3/28 weekly 41 puts, with total volume in those strikes near 14,600 contracts. The Put/Call Ratio is 1.57, while ATM IV is up over 1 point on the day. Earnings are expected on April 15th.

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