Bearish flow noted in Gap (GAP) Inc with 2,601 puts trading, or 1.3x expected. Most active are 11/8 weekly 21 puts and 11/8 weekly 21.5 puts, with total volume in those strikes near 1,500 contracts. The Put/Call Ratio is 2.24, while ATM IV is up nearly 5 points on the day. Earnings are expected on November 21st.
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