Bearish flow noted in Coherent (COHR) with 1,489 puts trading, or 2x expected. Most active are Jan-25 90 puts and 1/10 weekly 94 puts, with total volume in those strikes near 1,200 contracts. The Put/Call Ratio is 2.72, while ATM IV is up over 2 points on the day. Earnings are expected on February 5th.
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