Bearish flow noted in Under Armour (UAA) Class A with 11,115 puts trading, or 3x expected. Most active are Jan-27 7.5 puts and 2/14 weekly 7.5 calls, with total volume in those strikes near 11,500 contracts. The Put/Call Ratio is 5.66, while ATM IV is up over 1 point on the day. Earnings are expected on May 15th.
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