Bearish flow noted in Dow Chemical with 8,816 puts trading, or 1.6x expected. Most active are Aug-25 27.5 puts and Aug-25 25 puts, with total volume in those strikes near 5,600 contracts. The Put/Call Ratio is 1.62, while ATM IV is up nearly 2 points on the day. Earnings are expected on July 24th.
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