Bearish flow noted in Wells Fargo (WFC) with 20,859 puts trading, or 3x expected. Most active are 7/11 weekly 77 puts and Aug-25 70 puts, with total volume in those strikes near 14,300 contracts. The Put/Call Ratio is 2.60, while ATM IV is up over 1 point on the day. Earnings are expected on July 15th.
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