Bearish flow noted in Kingsoft Cloud (KC) Holdings with 9,655 puts trading, or 6x expected. Most active are Feb-25 20 puts and Feb-25 17.5 puts, with total volume in those strikes near 6,800 contracts. The Put/Call Ratio is 1.72, while ATM IV is up over 8 points on the day. Earnings are expected on March 19th.
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