Bearish flow noted in Nokia (NOK) with 3,086 puts trading, or 4x expected. Most active are Jul-25 5 puts and 7/25 weekly 5.5 calls, with total volume in those strikes near 3,100 contracts. The Put/Call Ratio is 12.20, while ATM IV is up over 1 point on the day. Earnings are expected on July 24th.
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