Bearish flow noted in Discover (DFS) with 4,193 puts trading, or 1.2x expected. Most active are Apr-25 165 puts and May-25 150 puts, with total volume in those strikes near 3,300 contracts. The Put/Call Ratio is 3.83, while ATM IV is up over 4 points on the day. Earnings are expected on April 23rd.
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