Bearish flow noted in ON Semi (ON)conductor with 5,835 puts trading, or 1.7x expected. Most active are Dec-25 50 puts and 10/31 weekly 51 puts, with total volume in those strikes near 3,100 contracts. The Put/Call Ratio is 2.16, while ATM IV is up over 1 point on the day. Earnings are expected on November 3rd.
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