Bearish flow noted in Dutch Bros (BROS) with 3,492 puts trading, or 1.5x expected. Most active are Mar-25 75 puts and Mar-25 70 puts, with total volume in those strikes near 2,400 contracts. The Put/Call Ratio is 1.61, while ATM IV is up over 1 point on the day. Earnings are expected on May 6th.
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