Bearish flow noted in Calumet (CLMT) Specialty Products with 1,551 puts trading, or 3x expected. Most active are Jun-25 15 puts and Jan-26 8 puts, with total volume in those strikes near 1,500 contracts. The Put/Call Ratio is 11.57, while ATM IV is up over 1 point on the day. Earnings are expected on May 12th.
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