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Franklin Resources put volume heavy and directionally bearish

Bearish flow noted in Franklin Resources with 2,260 puts trading, or 1.5x expected. Most active are Dec-24 17.5 puts and Oct-24 15 puts, with total volume in those strikes near 980 contracts. The Put/Call Ratio is 8.10, while ATM IV is up over 1 point on the day. Earnings are expected on October 29th.

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