Bearish flow noted in Reddit Inc with 6,365 puts trading, or 3x expected. Most active are Oct-24 66 puts and 10/4 weekly 68 puts, with total volume in those strikes near 5,000 contracts. The Put/Call Ratio is 5.30, while ATM IV is up nearly 7 points on the day. Earnings are expected on November 5th.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on RDDT:
- StockTok: FTC chair calls efforts to protect data “woefully inadequate”
- FedEx reports downbeat Q1, Nike vet returns as new CEO: Morning Buzz
- FedEx, PepsiCo downgraded: Wall Street’s top analyst calls
- B. Riley starts Reddit at Buy, sees ‘aplenty’ of monetization opportunities
- Reddit initiated with a Buy at B. Riley