Bearish flow noted in Petrobras (PBR) with 37,003 puts trading, or 5x expected. Most active are Mar-26 12 puts and Dec-26 10 puts, with total volume in those strikes near 35,000 contracts. The Put/Call Ratio is 7.89, while ATM IV is up over 1 point on the day. Earnings are expected on November 6th.
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