Bearish flow noted in Dutch Bros (BROS) with 2,980 puts trading, or 4x expected. Most active are Mar-25 70 puts and Mar-25 77.5 puts, with total volume in those strikes near 2,400 contracts. The Put/Call Ratio is 2.01, while ATM IV is up over 6 points on the day. Earnings are expected on May 6th.
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