Bearish flow noted in Dow Chemical with 4,352 puts trading, or 1.2x expected. Most active are Jul-25 28.5 puts and Jul-25 29 puts, with total volume in those strikes near 2,800 contracts. The Put/Call Ratio is 2.15, while ATM IV is up nearly 2 points on the day. Earnings are expected on July 24th.
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