Bearish flow noted in Gilead (GILD) with 3,289 puts trading, or 2x expected. Most active are Jan-26 90 puts and Jun-25 90 puts, with total volume in those strikes near 2,300 contracts. The Put/Call Ratio is 3.56, while ATM IV is up nearly 6 points on the day. Earnings are expected on August 7th.
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