Bearish flow noted in Builders First Source with 1,385 puts trading, or 1.9x expected. Most active are Sep-23 130 puts and Sep-23 125 puts, with total volume in those strikes near 1,100 contracts. The Put/Call Ratio is 4.24, while ATM IV is up nearly 3 points on the day. Earnings are expected on November 7th.
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