Bearish flow noted in Baxter (BAX) with 4,379 puts trading, or 1.8x expected. Most active are Dec-24 32.5 puts and Sep-25 27.5 puts, with total volume in those strikes near 2,800 contracts. The Put/Call Ratio is 3.93, while ATM IV is up over 1 point on the day. Earnings are expected on February 6th.
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