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YPF put volume heavy and directionally bearish

Bearish flow noted in YPF (YPF) with 1,034 puts trading, or 1.6x expected. Most active are Jan-27 40 puts and Jun-26 46 calls, with total volume in those strikes near 1,400 contracts. The Put/Call Ratio is 1.53, while ATM IV is up over 1 point on the day. Earnings are expected on May 7th.

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