Bearish flow noted in Gilead (GILD) with 8,856 puts trading, or 2x expected. Most active are 6/27 weekly 103 puts and 6/27 weekly 99 puts, with total volume in those strikes near 5,900 contracts. The Put/Call Ratio is 2.09, while ATM IV is up over 5 points on the day. Earnings are expected on August 7th.
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