Bearish flow noted in Lam Research (LRCX) with 6,316 puts trading, or 1.1x expected. Most active are May-26 260 puts and Jun-26 260 puts, with total volume in those strikes near 3,400 contracts. The Put/Call Ratio is 1.66, while ATM IV is up over 1 point on the day. Earnings are expected on July 29th.
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