AstraZeneca put volume heavy and directionally bearish

Bearish flow noted in AstraZeneca with 6,310 puts trading, or 1.5x expected. Most active are 5/24 weekly 64 puts and Oct-24 77.5 puts, with total volume in those strikes near 4,200 contracts. The Put/Call Ratio is 3.82, while ATM IV is up over 1 point on the day. Earnings are expected on July 25th.