Bearish flow noted in Morgan Stanley with 2,619 puts trading, or 1.5x expected. Most active are 9/13 weekly 93 puts and 9/13 weekly 95 puts, with total volume in those strikes near 1,600 contracts. The Put/Call Ratio is 2.78, while ATM IV is up over 1 point on the day. Earnings are expected on October 16th.
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