Bearish flow noted in Zillow (Z) with 1,525 puts trading, or 1.8x expected. Most active are Jan-25 72.5 puts and Sep-25 62.5 puts, with total volume in those strikes near 500 contracts. The Put/Call Ratio is 2.41, while ATM IV is up over 1 point on the day. Earnings are expected on February 18th.
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