Bearish flow noted in Gilead (GILD) with 1,949 puts trading, or 1.3x expected. Most active are 4/4 weekly 107 puts and Apr-25 109 puts, with total volume in those strikes near 1,000 contracts. The Put/Call Ratio is 2.60, while ATM IV is up nearly 2 points on the day. Earnings are expected on May 1st.
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