Chindata Group put volume heavy and directionally bearish

Bearish flow noted in Chindata Group with 3,574 puts trading, or 2x expected. Most active are Dec-23 7.5 puts and Jan-24 7.5 puts, with total volume in those strikes near 3,300 contracts. The Put/Call Ratio is 20.31, while ATM IV is up over 4 points on the day. Earnings are expected on November 28th.