Bearish flow noted in Delta Air Lines (DAL) with 14,453 puts trading, or 1.4x expected. Most active are Mar-25 60 puts and 2/28 weekly 58 puts, with total volume in those strikes near 5,700 contracts. The Put/Call Ratio is 2.00, while ATM IV is up over 2 points on the day. Earnings are expected on April 9th.
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