Bearish flow noted in TripAdvisor (TRIP) with 12,636 puts trading, or 9x expected. Most active are Jan-26 8 puts and 2/7 weekly 16 calls, with total volume in those strikes near 12,700 contracts. The Put/Call Ratio is 21.71, while ATM IV is up nearly 4 points on the day. Earnings are expected on February 12th.
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