Bearish flow noted in Verona Pharma (VRNA) with 2,937 puts trading, or 1.6x expected. Most active are Jul-25 90 puts and Jul-25 100 calls, with total volume in those strikes near 3,900 contracts. The Put/Call Ratio is 1.60, while ATM IV is up over 1 point on the day. Earnings are expected on August 7th.
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