Bearish flow noted in Macy’s (M) with 3,060 puts trading, or 1.2x expected. Most active are 11/7 weekly 17 puts and 11/7 weekly 19.5 puts, with total volume in those strikes near 1,500 contracts. The Put/Call Ratio is 2.02, while ATM IV is up nearly 4 points on the day. Earnings are expected on November 20th.
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