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Williams put volume heavy and directionally bearish

Bearish flow noted in Williams (WMB) with 5,429 puts trading, or 6x expected. Most active are Apr-26 65 puts and Apr-26 75 calls, with total volume in those strikes near 5,100 contracts. The Put/Call Ratio is 1.50, while ATM IV is up over 1 point on the day. Earnings are expected on May 4th.

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