Bearish flow noted in CVS Health (CVS) with 13,937 puts trading, or 2x expected. Most active are Mar-25 60 puts and Feb-25 63 puts, with total volume in those strikes near 5,600 contracts. The Put/Call Ratio is 3.54, while ATM IV is up nearly 2 points on the day. Earnings are expected on May 7th.
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