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Mastercard put volume heavy and directionally bearish

Bearish flow noted in Mastercard (MA) with 3,430 puts trading, or 1.2x expected. Most active are May-25 570 puts and 2/28 weekly 550 puts, with total volume in those strikes near 660 contracts. The Put/Call Ratio is 1.57, while ATM IV is up over 1 point on the day. Earnings are expected on April 30th.

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