Bearish flow noted in GSK (GSK) Pharma with 8,841 puts trading, or 3x expected. Most active are 7/25 weekly 36.5 puts and 7/25 weekly 35 puts, with total volume in those strikes near 8,600 contracts. The Put/Call Ratio is 17.23, while ATM IV is up over 1 point on the day. Earnings are expected on July 30th.
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