Bearish flow noted in PacWest Bancorp with 2,503 puts trading, or 1.7x expected. Most active are 11/3 weekly 3.5 puts and 11/3 weekly 5 puts, with total volume in those strikes near 1,700 contracts. The Put/Call Ratio is 5.24, while ATM IV is up nearly 10 points on the day. Earnings are expected on February 1st.
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