Bearish flow noted in HSBC with 6,971 puts trading, or 3x expected. Most active are Dec-23 37 puts and Nov-23 38 puts, with total volume in those strikes near 5,800 contracts. The Put/Call Ratio is 51.26, while ATM IV is up over 1 point on the day. Earnings are expected on October 30th.
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Read More on HSBC:
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- HSBC downgraded to Sell from Hold at Societe Generale
- HSBC put volume heavy and directionally bearish
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