Bearish flow noted in Capital One (COF) with 4,776 puts trading, or 9x expected. Most active are Jan-25 170 puts and Sep-25 140 puts, with total volume in those strikes near 4,600 contracts. The Put/Call Ratio is 55.53, while ATM IV is up over 2 points on the day. Earnings are expected on January 23rd.
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