Bearish flow noted in Zillow (Z) with 4,633 puts trading, or 3x expected. Most active are Feb-26 65 puts and May-26 60 calls, with total volume in those strikes near 4,500 contracts. The Put/Call Ratio is 16.09, while ATM IV is up over 1 point on the day. Earnings are expected on February 10th.
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