Bearish flow noted in Zions Bancorp with 3,743 puts trading, or 3x expected. Most active are Jan-24 25 puts and 1/12 weekly 40 puts, with total volume in those strikes near 2,400 contracts. The Put/Call Ratio is 3.49, while ATM IV is up nearly 2 points on the day. Earnings are expected on January 22nd.
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