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Magnite Inc put volume heavy and directionally bearish

Bearish flow noted in Magnite Inc with 3,082 puts trading, or 18x expected. Most active are Nov-24 12.5 puts and Oct-24 12.5 calls, with total volume in those strikes near 3,100 contracts. The Put/Call Ratio is 38.52, while ATM IV is up over 3 points on the day. Earnings are expected on November 7th.

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