Bearish flow noted in Dow Chemical with 12,899 puts trading, or 1.6x expected. Most active are Sep-25 20 puts and 9/5 weekly 23.5 puts, with total volume in those strikes near 7,000 contracts. The Put/Call Ratio is 1.78, while ATM IV is up over 1 point on the day. Earnings are expected on October 23rd.
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