Bearish flow noted in Li Auto (LI) with 10,755 puts trading, or 2x expected. Most active are Jan-26 20 puts and Apr-25 21.5 puts, with total volume in those strikes near 4,400 contracts. The Put/Call Ratio is 2.14, while ATM IV is up nearly 10 points on the day. Earnings are expected on May 20th.
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