New Fortress Energy put volume heavy and directionally bearish

Bearish flow noted in New Fortress Energy with 5,250 puts trading, or 3x expected. Most active are Jan-25 20 puts and Dec-25 25 calls, with total volume in those strikes near 5,100 contracts. The Put/Call Ratio is 8.96, while ATM IV is up over 3 points on the day. Earnings are expected on August 8th.