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Prothena put volume heavy and directionally bearish

Bearish flow noted in Prothena with 1,656 puts trading, or 2x expected. Most active are Jan-24 30 puts and Jan-24 25 puts, with total volume in those strikes near 630 contracts. The Put/Call Ratio is 38.51, while ATM IV is up over 5 points on the day. Earnings are expected on February 22nd.

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