Bearish flow noted in Wal-Mart with 146,327 puts trading, or 3x expected. Most active are 4/4 weekly 88 puts and 4/4 weekly 90 calls, with total volume in those strikes near 32,900 contracts. The Put/Call Ratio is 1.51, while ATM IV is up over 5 points on the day. Earnings are expected on May 15th.
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