Bearish flow noted in Pitney Bowes with 5,495 puts trading, or 7x expected. Most active are Dec-24 5.5 puts and Aug-24 6 puts, with total volume in those strikes near 5,000 contracts. The Put/Call Ratio is 1.80, while ATM IV is up over 1 point on the day. Earnings are expected on August 8th.
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