Bearish flow noted in Hershey with 2,295 puts trading, or 1.5x expected. Most active are 10/13 weekly 192.5 puts and 10/13 weekly 190 puts, with total volume in those strikes near 1,100 contracts. The Put/Call Ratio is 3.39, while ATM IV is up over 2 points on the day. Earnings are expected on October 26th.
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