Bearish flow noted in BHP Billiton with 5,756 puts trading, or 5x expected. Most active are Oct-24 57.5 puts and Jan-25 62.5 calls, with total volume in those strikes near 6,400 contracts. The Put/Call Ratio is 2.27, while ATM IV is up over 1 point on the day. Earnings are expected on February 20th.
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