AstraZeneca put volume heavy and directionally bearish

Bearish flow noted in AstraZeneca with 2,763 puts trading, or 2x expected. Most active are Oct-24 77.5 puts and 7/26 weekly 73 puts, with total volume in those strikes near 1,700 contracts. The Put/Call Ratio is 2.50, while ATM IV is up nearly 4 points on the day. Earnings are expected on July 25th.