Bearish flow noted in Summit Therapeutics (SMMT) with 1,584 puts trading, or 2x expected. Most active are 9/5 weekly 26 puts and Sep-25 19 puts, with total volume in those strikes near 1,300 contracts. The Put/Call Ratio is 1.96, while ATM IV is up nearly 2 points on the day. Earnings are expected on November 6th.
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