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Designer Brands put volume heavy and directionally bearish

Bearish flow noted in Designer Brands with 2,587 puts trading, or 1.4x expected. Most active are Jan-25 9 puts and Nov-24 8 puts, with total volume in those strikes near 2,000 contracts. The Put/Call Ratio is 49.75, while ATM IV is up nearly 4 points on the day. Earnings are expected on December 3rd.

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