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Blackstone Mortgage put volume heavy and directionally bearish

Bearish flow noted in Blackstone Mortgage with 3,368 puts trading, or 3x expected. Most active are Jan-24 17 puts and Jan-24 16 puts, with total volume in those strikes near 2,900 contracts. The Put/Call Ratio is 99, while ATM IV is up over 1 point on the day. Earnings are expected on February 7th.

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