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Sea Limited put volume heavy and directionally bearish

Bearish flow noted in Sea Limited (SE) with 2,033 puts trading, or 1.2x expected. Most active are Aug-26 70 puts and May-26 87 puts, with total volume in those strikes near 900 contracts. The Put/Call Ratio is 1.81, while ATM IV is up nearly 2 points on the day. Earnings are expected on May 12th.

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