Coty put volume heavy and directionally bearish

Bearish flow noted in Coty with 7,954 puts trading, or 5x expected. Most active are 9/29 weekly 11.5 puts and 10/6 weekly 11.5 puts, with total volume in those strikes near 7,300 contracts. The Put/Call Ratio is 7.55, while ATM IV is up nearly 3 points on the day. Earnings are expected on November 8th.