Bearish flow noted in Penn National with 7,675 puts trading, or 3x expected. Most active are Jul-24 20.5 puts and Jul-24 19.5 puts, with total volume in those strikes near 6,600 contracts. The Put/Call Ratio is 2.28, while ATM IV is up nearly 6 points on the day. Earnings are expected on August 8th.
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