Bearish flow noted in Wells Fargo (WFC) with 68,047 puts trading, or 5x expected. Most active are Jun-26 70 puts and May-26 74 puts, with total volume in those strikes near 38,800 contracts. The Put/Call Ratio is 2.87, while ATM IV is up over 1 point on the day. Earnings are expected on July 14th.
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