Bearish flow noted in Valley National with 12,983 puts trading, or 4x expected. Most active are Jun-24 6 puts and May-24 8 calls, with total volume in those strikes near 10,400 contracts. The Put/Call Ratio is 6.40, while ATM IV is up nearly 3 points on the day. Earnings are expected on April 25th.
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- Valley National call volume above normal and directionally bullish