Bearish flow noted in Lemonade (LMND) with 1,104 puts trading, or 1.6x expected. Most active are 5/9 weekly 25 puts and 5/9 weekly 40 calls, with total volume in those strikes near 1,000 contracts. The Put/Call Ratio is 1.62, while ATM IV is up nearly 4 points on the day. Earnings are expected on May 6th.
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