KKR put volume heavy and directionally bearish

Bearish flow noted in KKR with 2,547 puts trading, or 1.0x expected. Most active are 9/6 weekly 118 puts and 9/6 weekly 121 puts, with total volume in those strikes near 2,000 contracts. The Put/Call Ratio is 4.83, while ATM IV is up nearly 3 points on the day. Earnings are expected on November 5th.