Bearish flow noted in Microchip with 6,795 puts trading, or 7x expected. Most active are Aug-24 87.5 puts and Aug-24 75 puts, with total volume in those strikes near 5,700 contracts. The Put/Call Ratio is 3.24, while ATM IV is up over 1 point on the day. Earnings are expected on August 1st.
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