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Flagstar Financial Inc put volume heavy and directionally bearish

Bearish flow noted in Flagstar Financial (FLG) Inc with 5,412 puts trading, or 5x expected. Most active are Apr-26 12 puts and Apr-26 10 calls, with total volume in those strikes near 5,700 contracts. The Put/Call Ratio is 2.41, while ATM IV is up over 2 points on the day. Earnings are expected on April 24th.

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