Bearish flow noted in Gilead with 23,142 puts trading, or 1.7x expected. Most active are May-24 72.5 puts and May-24 77.5 puts, with total volume in those strikes near 15,400 contracts. The Put/Call Ratio is 4.97, while ATM IV is up nearly 3 points on the day. Earnings are expected on August 8th.
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