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Lennar put volume heavy and directionally bearish

Bearish flow noted in Lennar (LEN) with 3,111 puts trading, or 1.2x expected. Most active are 2/6 weekly 109 puts and 2/13 weekly 110 puts, with total volume in those strikes near 1,600 contracts. The Put/Call Ratio is 2.37, while ATM IV is up over 3 points on the day. Earnings are expected on March 19th.

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