Bearish flow noted in Peloton (PTON) Interactive with 4,477 puts trading, or 3x expected. Most active are 5/23 weekly 5 puts and 4/25 weekly 6.5 calls, with total volume in those strikes near 4,400 contracts. The Put/Call Ratio is 2.63, while ATM IV is up nearly 2 points on the day. Earnings are expected on May 8th.
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