Bearish flow noted in Petrobras (PBR) with 12,087 puts trading, or 1.2x expected. Most active are Dec-26 13 puts and Dec-26 10 puts, with total volume in those strikes near 6,600 contracts. The Put/Call Ratio is 2.43, while ATM IV is up over 25 points on the day. Earnings are expected on November 6th.
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