Bearish flow noted in Cenovus Energy with 1,117 puts trading, or 1.1x expected. Most active are 5/3 weekly 19.5 puts and Aug-24 19 calls, with total volume in those strikes near 1,100 contracts. The Put/Call Ratio is 2.09, while ATM IV is up over 1 point on the day. Earnings are expected on May 1st.
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