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Victoria’s Secret put volume heavy and directionally bearish

Bearish flow noted in Victoria’s Secret with 2,153 puts trading, or 1.2x expected. Most active are Nov-24 27 puts and Oct-24 19 puts, with total volume in those strikes near 1,800 contracts. The Put/Call Ratio is 2.86, while ATM IV is up over 1 point on the day. Earnings are expected on November 27th.

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