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Capri Holdings put volume heavy and directionally bearish

Bearish flow noted in Capri Holdings with 2,953 puts trading, or 1.2x expected. Most active are Nov-24 20 puts and 10/25 weekly 20 puts, with total volume in those strikes near 2,500 contracts. The Put/Call Ratio is 7.83, while ATM IV is up over 1 point on the day. Earnings are expected on November 7th.

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