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Southwest put volume heavy and directionally bearish

Southwest put volume heavy and directionally bearish

Bearish flow noted in Southwest (LUV) with 26,194 puts trading, or 3x expected. Most active are Apr-25 34 puts and Apr-25 32.5 puts, with total volume in those strikes near 10,300 contracts. The Put/Call Ratio is 2.85, while ATM IV is up over 5 points on the day. Earnings are expected on April 24th.

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