Bearish flow noted in Tower Semiconductor (TSEM) with 4,384 puts trading, or 3x expected. Most active are 5/29 weekly 252.5 puts and 5/29 weekly 300 calls, with total volume in those strikes near 3,500 contracts. The Put/Call Ratio is 2.48, while ATM IV is up nearly 4 points on the day. Earnings are expected on August 3rd.
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