Bearish flow noted in Restoration Hardware with 9,609 puts trading, or 1.5x expected. Most active are 6/27 weekly 190 puts and 6/27 weekly 187.5 puts, with total volume in those strikes near 2,600 contracts. The Put/Call Ratio is 1.65, while ATM IV is up over 3 points on the day. Earnings are expected on September 11th.
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