Bearish flow noted in Bristol Myers (BMY) Squibb with 8,148 puts trading, or 1.1x expected. Most active are Aug-25 52.5 puts and 7/11 weekly 49 calls, with total volume in those strikes near 4,800 contracts. The Put/Call Ratio is 2.25, while ATM IV is up nearly 3 points on the day. Earnings are expected on July 31st.
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