Bearish flow noted in Western Alliance with 2,493 puts trading, or 1.9x expected. Most active are 5/3 weekly 60 puts and Sep-24 50 puts, with total volume in those strikes near 1,100 contracts. The Put/Call Ratio is 1.55, while ATM IV is up nearly 3 points on the day. Earnings are expected on April 18th.
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