Zoetis put volume heavy and directionally bearish

Bearish flow noted in Zoetis with 7,463 puts trading, or 13x expected. Most active are Apr-24 150 puts and May-24 150 puts, with total volume in those strikes near 4,100 contracts. The Put/Call Ratio is 3.94, while ATM IV is up over 2 points on the day. Earnings are expected on May 2nd.

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