Bearish flow noted in KKR (KKR) with 2,202 puts trading, or 1.8x expected. Most active are Jan-25 120 puts and Jan-27 230 calls, with total volume in those strikes near 2,000 contracts. The Put/Call Ratio is 10.01, while ATM IV is up nearly 4 points on the day. Earnings are expected on January 28th.
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