Bearish flow noted in ON Semiconductor (ON) with 12,175 puts trading, or 1.4x expected. Most active are 11/1 weekly 57 puts and Nov-24 55 puts, with total volume in those strikes near 7,700 contracts. The Put/Call Ratio is 2.46, while ATM IV is up over 1 point on the day. Earnings are expected on January 27th.
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