EBay put volume heavy and directionally bearish

Bearish flow noted in EBay with 8,250 puts trading, or 4x expected. Most active are Aug-24 55 puts and Sep-24 57.5 calls, with total volume in those strikes near 4,500 contracts. The Put/Call Ratio is 1.98, while ATM IV is up nearly 2 points on the day. Earnings are expected on July 31st.