Bearish flow noted in Blue Owl Capital (OWL) with 11,041 puts trading, or 2x expected. Most active are Jan-26 14 puts and May-26 17 calls, with total volume in those strikes near 11,300 contracts. The Put/Call Ratio is 4.24, while ATM IV is up over 1 point on the day. Earnings are expected on February 5th.
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