Bearish flow noted in Texas Instruments (TXN) with 2,257 puts trading, or 1.3x expected. Most active are 1/31 weekly 170 puts and 1/3 weekly 185 puts, with total volume in those strikes near 2,000 contracts. The Put/Call Ratio is 5.39, while ATM IV is up nearly 2 points on the day. Earnings are expected on January 21st.
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