Herbalife put volume heavy and directionally bearish

Bearish flow noted in Herbalife with 4,395 puts trading, or 2x expected. Most active are Aug-24 7.5 puts and 7/26 weekly 10 puts, with total volume in those strikes near 3,300 contracts. The Put/Call Ratio is 7.92, while ATM IV is up nearly 15 points on the day. Earnings are expected on July 31st.