Bearish flow noted in HP Inc. (HPQ) with 20,752 puts trading, or 18x expected. Most active are May-25 23 puts and Dec-25 23 puts, with total volume in those strikes near 10,300 contracts. The Put/Call Ratio is 2.63, while ATM IV is up nearly 28 points on the day. Earnings are expected on May 28th.
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