Bearish flow noted in Shell PLC with 6,809 puts trading, or 3x expected. Most active are Apr-23 52.5 puts and Apr-23 55 calls, with total volume in those strikes near 4,600 contracts. The Put/Call Ratio is 2.20, while ATM IV is up nearly 4 points on the day. Earnings are expected on May 4th.
Published first on TheFly
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