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Toast Inc put volume heavy and directionally bearish

Bearish flow noted in Toast (TOST) Inc with 10,687 puts trading, or 3x expected. Most active are 5/22 weekly 21.5 puts and Dec-26 18 puts, with total volume in those strikes near 8,300 contracts. The Put/Call Ratio is 2.75, while ATM IV is up nearly 2 points on the day. Earnings are expected on August 4th.

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