Bearish flow noted in PG&E (PCG) with 5,052 puts trading, or 12x expected. Most active are 12/6 weekly 20 puts and 12/6 weekly 20.5 puts, with total volume in those strikes near 3,900 contracts. The Put/Call Ratio is 4.90, while ATM IV is up nearly 9 points on the day. Earnings are expected on February 20th.
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