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PNC Financial put volume heavy and directionally bearish

Bearish flow noted in PNC Financial with 1,314 puts trading, or 1.0x expected. Most active are Sep-23 130 puts and Aug-23 132 puts, with total volume in those strikes near 600 contracts. The Put/Call Ratio is 3.14, while ATM IV is up nearly 2 points on the day. Earnings are expected on October 13th.

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