Bearish flow noted in Devon Energy (DVN) with 4,649 puts trading, or 1.4x expected. Most active are Jun-25 27.5 puts and May-25 25 puts, with total volume in those strikes near 2,100 contracts. The Put/Call Ratio is 1.68, while ATM IV is up nearly 2 points on the day. Earnings are expected on May 6th.
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