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Pure Storage put volume heavy and directionally bearish

Bearish flow noted in Pure Storage with 13,016 puts trading, or 4x expected. Most active are Mar-24 50 puts and May-24 45 puts, with total volume in those strikes near 6,900 contracts. The Put/Call Ratio is 2.31, while ATM IV is up over 4 points on the day. Earnings are expected on May 29th.

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