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Bilibili put volume heavy and directionally bearish

Bearish flow noted in Bilibili (BILI) with 8,179 puts trading, or 5x expected. Most active are Mar-26 30 puts and Jan-27 47 calls, with total volume in those strikes near 8,100 contracts. The Put/Call Ratio is 7.12, while ATM IV is up over 1 point on the day. Earnings are expected on March 5th.

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