Bearish flow noted in MGM Resorts (MGM) with 2,967 puts trading, or 1.1x expected. Most active are 3/6 weekly 34 puts and Jan-27 33 puts, with total volume in those strikes near 2,300 contracts. The Put/Call Ratio is 3.07, while ATM IV is up over 1 point on the day. Earnings are expected on April 29th.
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- MGM Resorts put volume heavy and directionally bearish
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