Bearish flow noted in Blue Owl Capital (OWL) with 42,319 puts trading, or 1.3x expected. Most active are Jun-26 8 puts and 4/2 weekly 8.5 puts, with total volume in those strikes near 21,100 contracts. The Put/Call Ratio is 3.98, while ATM IV is up over 1 point on the day. Earnings are expected on May 6th.
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