Juniper Networks put volume heavy and directionally bearish

Bearish flow noted in Juniper (JNPR) Networks with 2,568 puts trading, or 3x expected. Most active are Jul-25 36 puts and Jul-25 38 calls, with total volume in those strikes near 2,500 contracts. The Put/Call Ratio is 41.42, while ATM IV is up nearly 2 points on the day. Earnings are expected on July 24th.