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Flagstar Financial Inc put volume heavy and directionally bearish

Bearish flow noted in Flagstar Financial (FLG) Inc with 16,329 puts trading, or 12x expected. Most active are May-26 9 puts and Jan-27 12 puts, with total volume in those strikes near 15,400 contracts. The Put/Call Ratio is 32.86, while ATM IV is up over 1 point on the day. Earnings are expected on January 29th.

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