Bearish flow noted in IBM (IBM) with 36,506 puts trading, or 1.0x expected. Most active are Mar-26 305 puts and Mar-26 280 puts, with total volume in those strikes near 19,300 contracts. The Put/Call Ratio is 3.38, while ATM IV is up over 2 points on the day. Earnings are expected on April 22nd.
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