Bearish flow noted in Kraft Heinz with 6,435 puts trading, or 2x expected. Most active are 7/26 weekly 33 puts and Jul-24 33.5 puts, with total volume in those strikes near 3,900 contracts. The Put/Call Ratio is 1.59, while ATM IV is up over 2 points on the day. Earnings are expected on July 31st.
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