Bearish flow noted in Coupang (CPNG) with 4,333 puts trading, or 1.0x expected. Most active are May-26 20 puts and Jun-26 17 puts, with total volume in those strikes near 2,900 contracts. The Put/Call Ratio is 2.15, while ATM IV is up over 1 point on the day. Earnings are expected on May 5th.
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