Bearish flow noted in Charles Schwab (SCHW) with 4,650 puts trading, or 1.5x expected. Most active are Jan-26 70 puts and 1/9 weekly 99 puts, with total volume in those strikes near 2,300 contracts. The Put/Call Ratio is 1.90, while ATM IV is up over 1 point on the day. Earnings are expected on January 21st.
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