Bearish flow noted in Petrobras (PBR) with 7,104 puts trading, or 1.1x expected. Most active are Jan-25 15 puts and Nov-24 15 calls, with total volume in those strikes near 6,500 contracts. The Put/Call Ratio is 1.58, while ATM IV is up over 1 point on the day. Earnings are expected on November 7th.
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