Bearish flow noted in Permian Resources (PR) with 1,282 puts trading, or 1.3x expected. Most active are Apr-25 10 puts and Jan-26 8 puts, with total volume in those strikes near 750 contracts. The Put/Call Ratio is 2.84, while ATM IV is up over 10 points on the day. Earnings are expected on May 7th.
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