Bearish flow noted in BP (BP) with 12,140 puts trading, or 6x expected. Most active are Jan-26 34 puts and Jan-26 35.5 calls, with total volume in those strikes near 11,200 contracts. The Put/Call Ratio is 1.74, while ATM IV is up over 1 point on the day. Earnings are expected on February 10th.
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