Bearish flow noted in First Majestic Silver with 32,963 puts trading, or 21x expected. Most active are Dec-25 3 puts and Jul-24 10 calls, with total volume in those strikes near 32,000 contracts. The Put/Call Ratio is 2.25, while ATM IV is up over 2 points on the day. Earnings are expected on August 1st.
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