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Dow Chemical put volume heavy and directionally bearish

Bearish flow noted in Dow Chemical with 5,808 puts trading, or 1.4x expected. Most active are Mar-25 36 puts and 3/14 weekly 39.5 calls, with total volume in those strikes near 2,700 contracts. The Put/Call Ratio is 1.59, while ATM IV is up nearly 3 points on the day. Earnings are expected on April 24th.

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