Bearish flow noted in Microchip (MCHP) with 5,433 puts trading, or 2x expected. Most active are Feb-25 50 puts and 2/7 weekly 53 puts, with total volume in those strikes near 2,400 contracts. The Put/Call Ratio is 1.89, while ATM IV is up nearly 3 points on the day. Earnings are expected on February 6th.
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