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Blue Owl Capital put volume heavy and directionally bearish

Bearish flow noted in Blue Owl Capital (OWL) with 16,947 puts trading, or 2x expected. Most active are Jan-26 12 puts and Nov-25 14 calls, with total volume in those strikes near 7,200 contracts. The Put/Call Ratio is 2.10, while ATM IV is up nearly 7 points on the day. Earnings are expected on February 5th.

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