Bearish flow noted in PG&E (PCG) with 17,821 puts trading, or 4x expected. Most active are 2/14 weekly 14 puts and Jun-25 20 calls, with total volume in those strikes near 7,700 contracts. The Put/Call Ratio is 1.91, while ATM IV is up nearly 9 points on the day. Earnings are expected on February 20th.
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