Bearish flow noted in Dutch Bros with 2,224 puts trading, or 1.3x expected. Most active are Aug-23 33 puts and Jan-24 22.5 puts, with total volume in those strikes near 1,500 contracts. The Put/Call Ratio is 1.52, while ATM IV is up over 2 points on the day. Earnings are expected on November 8th.
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