Bearish flow noted in New Fortress Energy (NFE) with 6,020 puts trading, or 1.3x expected. Most active are Dec-25 7 puts and Jun-25 9 calls, with total volume in those strikes near 5,000 contracts. The Put/Call Ratio is 2.08, while ATM IV is up over 1 point on the day. Earnings are expected on May 8th.
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