Bearish flow noted in Kingsoft Cloud (KC) Holdings with 1,810 puts trading, or 6x 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 2.80, while ATM IV is up nearly 6 points on the day. Earnings are expected on May 21st.
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- Kingsoft Cloud Holdings put volume heavy and directionally bearish