Bearish flow noted in Petrobras (PBR) with 10,031 puts trading, or 1.4x expected. Most active are Jun-26 8 puts and Jun-26 12 puts, with total volume in those strikes near 7,500 contracts. The Put/Call Ratio is 2.18, while ATM IV is up nearly 4 points on the day. Earnings are expected on November 6th.
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