Bearish flow noted in Biogen (BIIB) with 1,136 puts trading, or 1.1x expected. Most active are Apr-25 160 puts and 11/29 weekly 162.5 calls, with total volume in those strikes near 1,100 contracts. The Put/Call Ratio is 1.94, while ATM IV is up over 1 point on the day. Earnings are expected on February 11th.
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