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Reddit Inc put volume heavy and directionally bearish

Bearish flow noted in Reddit Inc with 5,502 puts trading, or 2x expected. Most active are 11/1 weekly 75 puts and Oct-24 80 calls, with total volume in those strikes near 3,800 contracts. The Put/Call Ratio is 1.69, while ATM IV is up over 3 points on the day. Earnings are expected on October 29th.

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