Bearish flow noted in Bath & Body Works (BBWI) with 4,211 puts trading, or 2x expected. Most active are 4/11 weekly 30 puts and Mar-25 32.5 puts, with total volume in those strikes near 3,000 contracts. The Put/Call Ratio is 14.04, while ATM IV is up over 3 points on the day. Earnings are expected on June 3rd.
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