Bearish flow noted in Gilead (GILD) with 4,233 puts trading, or 3x expected. Most active are May-26 130 puts and Sep-26 140 calls, with total volume in those strikes near 3,500 contracts. The Put/Call Ratio is 2.23, while ATM IV is up over 1 point on the day. Earnings are expected on April 23rd.
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