Toyota Motor Corporation ADR (TM) saw a monster day not only trading 18.54 million shares (average daily stock volume 844,000), but also seeing 22x the normal option activity expected to trade with 78,800 puts traded vs. 44,600 calls. More than 43% of today's put activity traded on the offer side giving a bearish bias. However, 34% of today's call volume traded on the offer side and with a bounce off support today, I am looking for this to make a bounce higher going into earnings after the close tomorrow.
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