Bearish flow noted in BP with 7,102 puts trading, or 1.8x expected. Most active are Apr-24 38 puts and 4/5 weekly 37 puts, with total volume in those strikes near 2,100 contracts. The Put/Call Ratio is 2.21, while ATM IV is up over 1 point on the day. Earnings are expected on May 7th.
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