Bearish flow noted in Under Armour (UAA) Class A with 5,050 puts trading, or 5x expected. Most active are Jan-27 7.5 puts and Dec-26 4 puts, with total volume in those strikes near 4,500 contracts. The Put/Call Ratio is 3.72, while ATM IV is up nearly 5 points on the day. Earnings are expected on May 14th.
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