Bearish flow noted in Spotify (SPOT) with 6,464 puts trading, or 1.6x expected. Most active are 1/3 weekly 430 puts and 1/3 weekly 445 puts, with total volume in those strikes near 3,300 contracts. The Put/Call Ratio is 3.56, while ATM IV is up over 1 point on the day. Earnings are expected on February 4th.
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