KeyCorp put volume heavy and directionally bearish

Bearish flow noted in KeyCorp with 3,101 puts trading, or 2x expected. Most active are 6/7 weekly 13 puts and 6/14 weekly 14.5 calls, with total volume in those strikes near 3,000 contracts. The Put/Call Ratio is 2.25, while ATM IV is up over 1 point on the day. Earnings are expected on July 18th.