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Cassava Sciences put volume heavy and directionally bearish

Bearish flow noted in Cassava Sciences with 6,066 puts trading, or 3x expected. Most active are Jan-25 10 puts and 9/27 weekly 14 puts, with total volume in those strikes near 1,500 contracts. The Put/Call Ratio is 1.52, while ATM IV is up nearly 4 points on the day. Earnings are expected on November 11th.

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