Bearish flow noted in Novartis (NVS) with 1,936 puts trading, or 3x expected. Most active are Apr-25 105 puts and Apr-25 110 puts, with total volume in those strikes near 1,100 contracts. The Put/Call Ratio is 6.13, while ATM IV is up over 1 point on the day. Earnings are expected on April 29th.
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