Medtronic: Medtronic put volume heavy and directionally bearish

Bearish flow noted in Medtronic ( MDT ) with 25,355 puts trading, or 7x expected. Most active are Jun-25 100 calls and Jan-26 85 puts, with total volume in those strikes near 7,900 contracts. The Put/Call Ratio is 2.02, while ATM IV is up nearly 10 points on the day. Earnings are expected on May 21st. Don't Miss Our End of Quarter Offers: Discover the latest stocks recommended by top Wall Street analysts, all in one place with Analyst Top Stocks. Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter. Published first on TheFly - the ultimate source for real-time, market-moving breaking financial news. Try Now>>