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Caesars put volume heavy and directionally bearish

Bearish flow noted in Caesars (CZR) with 3,255 puts trading, or 1.2x expected. Most active are Feb-26 25 puts and 1/23 weekly 26 calls, with total volume in those strikes near 2,600 contracts. The Put/Call Ratio is 1.72, while ATM IV is up nearly 3 points on the day. Earnings are expected on February 17th.

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