Coupang put volume heavy and directionally bearish

Bearish flow noted in Coupang with 13,139 puts trading, or 9x expected. Most active are 3/1 weekly 15 puts and 3/8 weekly 15.5 puts, with total volume in those strikes near 8,500 contracts. The Put/Call Ratio is 4.69, while ATM IV is up nearly 3 points on the day. Earnings are expected on February 27th.