Bearish flow noted in E.l.f. Beauty with 8,335 puts trading, or 1.8x expected. Most active are 9/5 weekly 125 puts and 8/29 weekly 127 puts, with total volume in those strikes near 3,400 contracts. The Put/Call Ratio is 1.71, while ATM IV is up nearly 2 points on the day. Earnings are expected on November 10th.
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