Bearish flow noted in Shell (SHEL) PLC with 2,902 puts trading, or 5x expected. Most active are 3/14 weekly 64 puts and Jun-25 67.5 puts, with total volume in those strikes near 2,700 contracts. The Put/Call Ratio is 11.94, while ATM IV is up nearly 6 points on the day. Earnings are expected on May 2nd.
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