Bearish flow noted in Bristol Myers (BMY) Squibb with 5,469 puts trading, or 1.3x expected. Most active are May-25 47.5 puts and 5/23 weekly 48 puts, with total volume in those strikes near 2,900 contracts. The Put/Call Ratio is 2.40, while ATM IV is up nearly 10 points on the day. Earnings are expected on July 31st.
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