Bearish flow noted in Petrobras (PBR) with 20,853 puts trading, or 3x expected. Most active are Nov-25 11 puts and Oct-25 12 puts, with total volume in those strikes near 13,900 contracts. The Put/Call Ratio is 1.53, while ATM IV is up nearly 12 points on the day. Earnings are expected on November 6th.
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