AES Corp. put volume heavy and directionally bearish

Bearish flow noted in AES Corp. (AES) with 13,096 puts trading, or 3x expected. Most active are Dec-24 13 puts and Dec-24 12 puts, with total volume in those strikes near 10,500 contracts. The Put/Call Ratio is 25.78, while ATM IV is up over 4 points on the day. Earnings are expected on February 24th.