Bearish flow noted in Novo Nordisk (NVO) with 7,917 puts trading, or 1.2x expected. Most active are 3/14 weekly 76 puts and Sep-25 110 puts, with total volume in those strikes near 4,100 contracts. The Put/Call Ratio is 1.83, while ATM IV is up over 1 point on the day. Earnings are expected on May 7th.
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