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UPS put volume heavy and directionally bearish

Bearish flow noted in UPS (UPS) with 6,546 puts trading, or 1.4x expected. Most active are Jan-25 120 puts and 1/10 weekly 125 puts, with total volume in those strikes near 4,100 contracts. The Put/Call Ratio is 1.57, while ATM IV is up nearly 2 points on the day. Earnings are expected on January 30th.

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