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Vale put volume heavy and directionally bearish

Vale put volume heavy and directionally bearish

Bearish flow noted in Vale (VALE) with 11,722 puts trading, or 1.2x expected. Most active are Jan-27 10 puts and 2/14 weekly 10 calls, with total volume in those strikes near 11,200 contracts. The Put/Call Ratio is 1.62, while ATM IV is up over 1 point on the day. Earnings are expected on February 19th.

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