Bearish flow noted in GSK Pharma with 13,032 puts trading, or 7x expected. Most active are 6/28 weekly 45 puts and Jun-24 44 puts, with total volume in those strikes near 8,900 contracts. The Put/Call Ratio is 4.51, while ATM IV is up over 2 points on the day. Earnings are expected on July 31st.
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