NRG Energy put volume heavy and directionally bearish

Bearish flow noted in NRG Energy with 1,187 puts trading, or 1.8x expected. Most active are Oct-23 37 puts and Oct-23 39 calls, with total volume in those strikes near 870 contracts. The Put/Call Ratio is 3.13, while ATM IV is up nearly 4 points on the day. Earnings are expected on November 9th.