Citi put volume heavy and directionally bearish
THE FLY 1:55 PM ET 5/20/2022
Bearish flow noted in Citi with 68,936 puts trading, or 2x expected. Most active are Jan-23 50 puts and Jan-24 75 calls, with total volume in those strikes near 16,700 contracts. The Put/Call Ratio is 1.75, while ATM IV is up nearly 2 points on the day. Earnings are expected on July 15th.