Bearish flow noted in E.l.f. Beauty with 8,204 puts trading, or 3x expected. Most active are 11/22 weekly 111 puts and 11/22 weekly 125 calls, with total volume in those strikes near 2,500 contracts. The Put/Call Ratio is 1.89, while ATM IV is up nearly 7 points on the day. Earnings are expected on February 5th.
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