Bearish flow noted in International Paper with 1,439 puts trading, or 1.6x expected. Most active are Jan-25 40 puts and 10/25 weekly 49 calls, with total volume in those strikes near 1,400 contracts. The Put/Call Ratio is 1.76, while ATM IV is up nearly 2 points on the day. Earnings are expected on October 31st.
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