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Fortress Transportation put volume heavy and directionally bearish

Bearish flow noted in Fortress Transportation with 4,417 puts trading, or 1.6x expected. Most active are Jan-25 135 puts and Jan-25 165 calls, with total volume in those strikes near 1,600 contracts. The Put/Call Ratio is 1.63, while ATM IV is up nearly 3 points on the day. Earnings are expected on February 27th.

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