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Upwork put volume heavy and directionally bearish

Bearish flow noted in Upwork with 2,061 puts trading, or 5x expected. Most active are Oct-24 7.5 puts and Apr-24 12.5 puts, with total volume in those strikes near 2,000 contracts. The Put/Call Ratio is 79.27, while ATM IV is up over 1 point on the day. Earnings are expected on May 1st.

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