Bearish flow noted in Macy’s (M) with 7,383 puts trading, or 1.7x expected. Most active are 10/31 weekly 18.5 puts and 10/24 weekly 18.5 puts, with total volume in those strikes near 6,400 contracts. The Put/Call Ratio is 2.23, while ATM IV is up over 1 point on the day. Earnings are expected on November 20th.
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