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XP Inc put volume heavy and directionally bearish

Bearish flow noted in XP Inc with 7,777 puts trading, or 10x expected. Most active are 1/24 weekly 11 puts and 1/24 weekly 10 puts, with total volume in those strikes near 5,300 contracts. The Put/Call Ratio is 30.03, while ATM IV is up over 16 points on the day. Earnings are expected on February 25th.

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