Bearish flow noted in Sirius XM (SIRI) with 4,552 puts trading, or 2x expected. Most active are 2/7 weekly 20.5 puts and Jan-25 21.5 calls, with total volume in those strikes near 1,600 contracts. The Put/Call Ratio is 1.58, while ATM IV is up nearly 2 points on the day. Earnings are expected on January 30th.
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