Bearish flow noted in Gilead (GILD) with 7,279 puts trading, or 4x expected. Most active are Jun-25 100 puts and May-25 100 puts, with total volume in those strikes near 6,000 contracts. The Put/Call Ratio is 6.96, while ATM IV is up nearly 6 points on the day. Earnings are expected on August 7th.
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