Bearish flow noted in ON Semi (ON)conductor with 16,774 puts trading, or 14x expected. Most active are Sep-25 41 puts and 7/25 weekly 59 puts, with total volume in those strikes near 13,900 contracts. The Put/Call Ratio is 1.98, while ATM IV is up nearly 2 points on the day. Earnings are expected on August 4th.
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