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Shell PLC put volume heavy and directionally bearish

Shell PLC put volume heavy and directionally bearish

Bearish flow noted in Shell (SHEL) PLC with 2,124 puts trading, or 1.9x expected. Most active are Mar-25 65 puts and Jul-25 52.5 puts, with total volume in those strikes near 1,000 contracts. The Put/Call Ratio is 2.17, while ATM IV is up over 1 point on the day. Earnings are expected on May 2nd.

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