Bearish flow noted in Sirius XM (SIRI) with 1,465 puts trading, or 1.6x expected. Most active are Feb-26 21 puts and Jan-27 15 calls, with total volume in those strikes near 1,100 contracts. The Put/Call Ratio is 1.65, while ATM IV is up nearly 10 points on the day. Earnings are expected on February 5th.
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