Bearish flow noted in Peabody Energy (BTU) with 7,051 puts trading, or 3x expected. Most active are Jul-25 12 puts and Jul-25 11 puts, with total volume in those strikes near 6,400 contracts. The Put/Call Ratio is 2.78, while ATM IV is up over 1 point on the day. Earnings are expected on July 31st.
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