Bearish flow noted in Unilever (UL) with 8,969 puts trading, or 5x expected. Most active are Mar-26 62.5 puts and May-26 55 puts, with total volume in those strikes near 4,000 contracts. The Put/Call Ratio is 4.86, while ATM IV is up nearly 2 points on the day. Earnings are expected on July 28th.
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