Bearish flow noted in Delta Air Lines (DAL) with 29,134 puts trading, or 1.9x expected. Most active are Feb-25 57.5 puts and Feb-25 60 puts, with total volume in those strikes near 11,300 contracts. The Put/Call Ratio is 2.44, while ATM IV is up nearly 2 points on the day. Earnings are expected on April 9th.
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