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Wayfair put volume heavy and directionally bearish

Bearish flow noted in Wayfair (W) with 3,114 puts trading, or 1.1x expected. Most active are 10/3 weekly 80 puts and 10/3 weekly 85 calls, with total volume in those strikes near 1,700 contracts. The Put/Call Ratio is 1.64, while ATM IV is up over 8 points on the day. Earnings are expected on October 28th.

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