Bearish flow noted in McDonald’s (MCD) with 9,278 puts trading, or 1.5x expected. Most active are Apr-25 290 puts and 5/2 weekly 290 puts, with total volume in those strikes near 4,200 contracts. The Put/Call Ratio is 3.56, while ATM IV is up over 5 points on the day. Earnings are expected on May 1st.
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