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YPF put volume heavy and directionally bearish

Bearish flow noted in YPF with 3,694 puts trading, or 4x expected. Most active are Jan-25 17 puts and May-24 22 puts, with total volume in those strikes near 3,000 contracts. The Put/Call Ratio is 1.68, while ATM IV is up over 2 points on the day. Earnings are expected on May 9th.

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