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Coherent put volume heavy and directionally bearish

Bearish flow noted in Coherent with 2,976 puts trading, or 3x expected. Most active are Nov-24 95 puts and Jan-25 80 puts, with total volume in those strikes near 2,500 contracts. The Put/Call Ratio is 2.30, while ATM IV is up over 5 points on the day. Earnings are expected on November 4th.

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