Bearish flow noted in US Bancorp with 3,922 puts trading, or 1.2x expected. Most active are Jan-27 55 puts and Jan-26 54 puts, with total volume in those strikes near 2,000 contracts. The Put/Call Ratio is 3.05, while ATM IV is up over 1 point on the day. Earnings are expected on January 20th.
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