Bearish flow noted in Kellogg with 5,520 puts trading, or 1.8x expected. Most active are Jan-26 60 puts and Oct-25 60 puts, with total volume in those strikes near 5,500 contracts. The Put/Call Ratio is 4.53, while ATM IV is up over 1 point on the day. Earnings are expected on October 30th.
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