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McDonald’s put volume heavy and directionally bearish

Bearish flow noted in McDonald’s (MCD) with 5,057 puts trading, or 1.1x expected. Most active are Apr-25 295 puts and 3/28 weekly 310 calls, with total volume in those strikes near 2,400 contracts. The Put/Call Ratio is 1.78, while ATM IV is up nearly 2 points on the day. Earnings are expected on April 29th.

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