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Li Auto put volume heavy and directionally bearish

Bearish flow noted in Li Auto (LI) with 1,576 puts trading, or 1.0x expected. Most active are Jan-25 22 puts and 1/10 weekly 27 calls, with total volume in those strikes near 1,500 contracts. The Put/Call Ratio is 2.12, while ATM IV is up nearly 3 points on the day. Earnings are expected on February 24th.

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