Bearish flow noted in Lam Research (LRCX) with 3,250 puts trading, or 1.2x expected. Most active are 5/23 weekly 82 puts and 6/6 weekly 81 puts, with total volume in those strikes near 2,000 contracts. The Put/Call Ratio is 5.81, while ATM IV is up over 1 point on the day. Earnings are expected on July 30th.
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