Bearish flow noted in Zscaler (ZS) with 11,690 puts trading, or 1.2x expected. Most active are Jan-26 280 puts and Jan-26 270 puts, with total volume in those strikes near 7,000 contracts. The Put/Call Ratio is 2.20, while ATM IV is up nearly 2 points on the day. Earnings are expected on March 5th.
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