Bearish flow noted in Microchip (MCHP) with 6,971 puts trading, or 4x expected. Most active are Oct-25 30 puts and Sep-25 35 puts, with total volume in those strikes near 6,600 contracts. The Put/Call Ratio is 28.57, while ATM IV is up over 2 points on the day. Earnings are expected on May 8th.
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