Bearish flow noted in Melco Resorts (MLCO) with 2,524 puts trading, or 3x expected. Most active are 2/14 weekly 5.5 puts and Jan-27 5 calls, with total volume in those strikes near 3,200 contracts. The Put/Call Ratio is 2.02, while ATM IV is up over 1 point on the day. Earnings are expected on February 27th.
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