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Bilibili put volume heavy and directionally bearish

Bearish flow noted in Bilibili (BILI) with 8,070 puts trading, or 8x expected. Most active are 9/5 weekly 23 puts and 8/29 weekly 23 puts, with total volume in those strikes near 5,200 contracts. The Put/Call Ratio is 2.50, while ATM IV is up nearly 2 points on the day. Earnings are expected on November 13th.

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