Bearish flow noted in Coherent (COHR) with 6,198 puts trading, or 2x expected. Most active are Jun-26 165 puts and 4/24 weekly 285 puts, with total volume in those strikes near 1,600 contracts. The Put/Call Ratio is 3.64, while ATM IV is up nearly 2 points on the day. Earnings are expected on May 6th.
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