Bearish options flow identified in Lululemon (LULU), with shares down 71c near $163.45. Options volume relatively light with 29k contracts traded and puts leading calls for a put/call ratio of 1.52, compared to a typical level near 1.23. Implied volatility (IV30) is higher by 1.8 points near 74.18, in the highest 10% of observations over the past year, suggesting an expected daily move of $7.64. Put-call skew steepened, indicating increased demand for downside protection.
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