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ZTO Express put volume heavy and directionally bearish
The Fly

ZTO Express put volume heavy and directionally bearish

Bearish flow noted in ZTO Express with 4,772 puts trading, or 3x expected. Most active are Feb-24 23 puts and Apr-24 20 puts, with total volume in those strikes near 4,000 contracts. The Put/Call Ratio is 85.21, while ATM IV is up over 1 point on the day. Earnings are expected on November 20th.

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