Bearish flow noted in Li Auto (LI) with 1,515 puts trading, or 1.1x expected. Most active are 5/30 weekly 25 puts and 6/6 weekly 30 calls, with total volume in those strikes near 1,100 contracts. The Put/Call Ratio is 2.94, while ATM IV is up over 6 points on the day. Earnings are expected on May 29th.
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