Bearish flow noted in GSK Pharma with 7,877 puts trading, or 6x expected. Most active are 5/31 weekly 44 puts and Jun-24 44 puts, with total volume in those strikes near 5,900 contracts. The Put/Call Ratio is 4.78, while ATM IV is up over 7 points on the day. Earnings are expected on July 31st.
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