AstraZeneca put volume heavy and directionally bearish

Bearish flow noted in AstraZeneca (AZN) with 57,094 puts trading, or 10x expected. Most active are Nov-24 75 puts and Nov-24 70 puts, with total volume in those strikes near 33,200 contracts. The Put/Call Ratio is 4.79, while ATM IV is up nearly 2 points on the day. Earnings are expected on February 6th.