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Cheniere Energy put volume heavy and directionally bearish

Bearish flow noted in Cheniere Energy (LNG) with 9,167 puts trading, or 22x expected. Most active are Mar-25 200 puts and Feb-25 230 calls, with total volume in those strikes near 9,500 contracts. The Put/Call Ratio is 4.48, while ATM IV is up over 1 point on the day. Earnings are expected on February 20th.

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