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KeyCorp put volume heavy and directionally bearish

Bearish flow noted in KeyCorp (KEY) with 11,491 puts trading, or 7x expected. Most active are Jan-26 10 puts and Jan-26 17 puts, with total volume in those strikes near 11,200 contracts. The Put/Call Ratio is 5.98, while ATM IV is up over 1 point on the day. Earnings are expected on April 17th.

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