Bearish flow noted in Caterpillar (CAT) with 9,012 puts trading, or 3x expected. Most active are 9/5 weekly 410 puts and 8/29 weekly 415 puts, with total volume in those strikes near 3,400 contracts. The Put/Call Ratio is 1.87, while ATM IV is up nearly 2 points on the day. Earnings are expected on October 29th.
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