Bearish flow noted in Kingsoft Cloud (KC) Holdings with 1,687 puts trading, or 4x expected. Most active are May-25 12.5 puts and May-25 10 puts, with total volume in those strikes near 1,300 contracts. The Put/Call Ratio is 11.10, while ATM IV is up over 11 points on the day. Earnings are expected on May 21st.
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