Bearish flow noted in Zillow with 2,767 puts trading, or 1.2x expected. Most active are 7/12 weekly 44 puts and Jul-24 42.5 puts, with total volume in those strikes near 1,600 contracts. The Put/Call Ratio is 3.85, while ATM IV is up over 2 points on the day. Earnings are expected on July 31st.
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