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Nutrien put volume heavy and directionally bearish

Bearish flow noted in Nutrien with 2,352 puts trading, or 1.1x expected. Most active are Mar-24 52.5 puts and Mar-24 50 puts, with total volume in those strikes near 1,200 contracts. The Put/Call Ratio is 2.67, while ATM IV is up nearly 2 points on the day. Earnings are expected on February 14th.

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