Bearish flow noted in United Airlines (UAL) with 8,255 puts trading, or 3x expected. Most active are Mar-26 105 puts and Jun-26 95 puts, with total volume in those strikes near 3,100 contracts. The Put/Call Ratio is 2.07, while ATM IV is up nearly 2 points on the day. Earnings are expected on April 14th.
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