Bearish flow noted in Gap (GAP) Inc with 2,829 puts trading, or 2x expected. Most active are Sep-25 18 puts and 8/1 weekly 20 puts, with total volume in those strikes near 1,800 contracts. The Put/Call Ratio is 2.11, while ATM IV is up over 10 points on the day. Earnings are expected on August 28th.
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