Bearish flow noted in Tapestry with 2,045 puts trading, or 1.0x expected. Most active are May-24 37.5 puts and May-24 42.5 puts, with total volume in those strikes near 1,100 contracts. The Put/Call Ratio is 3.10, while ATM IV is up over 1 point on the day. Earnings are expected on May 9th.
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