Bearish flow noted in XPeng (XPEV) with 3,719 puts trading, or 1.7x expected. Most active are 1/31 weekly 15.5 puts and Mar-25 12 puts, with total volume in those strikes near 2,700 contracts. The Put/Call Ratio is 2.36, while ATM IV is up nearly 2 points on the day. Earnings are expected on March 19th.
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