Bearish flow noted in Lam Research (LRCX) with 26,164 puts trading, or 4x expected. Most active are Feb-26 150 puts and Feb-26 145 puts, with total volume in those strikes near 21,200 contracts. The Put/Call Ratio is 3.44, while ATM IV is up over 2 points on the day. Earnings are expected on January 28th.
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