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Blue Owl Capital put volume heavy and directionally bearish

Bearish flow noted in Blue Owl Capital (OWL) with 3,551 puts trading, or 1.8x expected. Most active are Aug-25 17 puts and Jan-26 13 puts, with total volume in those strikes near 2,400 contracts. The Put/Call Ratio is 2.89, while ATM IV is up over 7 points on the day. Earnings are expected on May 1st.

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