Bearish flow noted in Wells Fargo (WFC) with 16,221 puts trading, or 3x expected. Most active are Jun-26 70 puts and May-26 75 calls, with total volume in those strikes near 9,600 contracts. The Put/Call Ratio is 3.07, while ATM IV is up nearly 2 points on the day. Earnings are expected on July 14th.
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