Bearish flow noted in Coupang (CPNG) with 2,187 puts trading, or 4x expected. Most active are Feb-26 23 puts and 12/26 weekly 22 puts, with total volume in those strikes near 1,500 contracts. The Put/Call Ratio is 1.92, while ATM IV is up nearly 3 points on the day. Earnings are expected on February 24th.
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