Bearish flow noted in First Horizon (FHN) with 1,468 puts trading, or 1.3x expected. Most active are 1/30 weekly 24 puts and Feb-26 26 calls, with total volume in those strikes near 1,600 contracts. The Put/Call Ratio is 1.62, while ATM IV is up over 1 point on the day. Earnings are expected on April 15th.
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