Bearish flow noted in Western Alliance with 3,506 puts trading, or 1.6x expected. Most active are 3/8 weekly 57 puts and Mar-24 55 puts, with total volume in those strikes near 1,800 contracts. The Put/Call Ratio is 3.62, while ATM IV is up nearly 6 points on the day. Earnings are expected on April 16th.
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