Nutrien put volume heavy and directionally bearish

Bearish flow noted in Nutrien with 1,237 puts trading, or 1.1x expected. Most active are Sep-24 37.5 puts and 9/13 weekly 47 calls, with total volume in those strikes near 1,200 contracts. The Put/Call Ratio is 1.85, while ATM IV is up nearly 2 points on the day. Earnings are expected on November 6th.