Illumina put volume heavy and directionally bearish

Bearish flow noted in Illumina with 1,346 puts trading, or 1.2x expected. Most active are Sep-24 95 puts and Sep-24 115 calls, with total volume in those strikes near 1,200 contracts. The Put/Call Ratio is 7.05, while ATM IV is up over 2 points on the day. Earnings are expected on August 6th.