Bearish flow noted in Etsy (ETSY) with 2,029 puts trading, or 1.3x expected. Most active are Mar-26 55 puts and 1/23 weekly 59 puts, with total volume in those strikes near 1,300 contracts. The Put/Call Ratio is 1.95, while ATM IV is up nearly 12 points on the day. Earnings are expected on February 18th.
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