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Crispr Therapeutics put volume heavy and directionally bearish

Bearish flow noted in Crispr Therapeutics with 2,199 puts trading, or 1.1x expected. Most active are Jan-25 40 puts and 1/5 weekly 65 calls, with total volume in those strikes near 2,200 contracts. The Put/Call Ratio is 1.69, while ATM IV is up over 1 point on the day. Earnings are expected on February 20th.

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