US Steel put volume heavy and directionally bearish

Bearish flow noted in US Steel with 13,563 puts trading, or 3x expected. Most active are Jan-25 35 puts and Dec-24 35 puts, with total volume in those strikes near 10,900 contracts. The Put/Call Ratio is 9.11, while ATM IV is up nearly 13 points on the day. Earnings are expected on February 6th.

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