Bearish flow noted in Johnson Controls with 4,633 puts trading, or 5x expected. Most active are Feb-24 52.5 puts and Feb-24 57.5 calls, with total volume in those strikes near 4,800 contracts. The Put/Call Ratio is 1.88, while ATM IV is up over 3 points on the day. Earnings are expected on January 30th.
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