Redfin put volume heavy and directionally bearish

Bearish flow noted in Redfin with 3,329 puts trading, or 3x expected. Most active are Jan-26 3 puts and Aug-24 12 calls, with total volume in those strikes near 3,100 contracts. The Put/Call Ratio is 5.10, while ATM IV is up over 1 point on the day. Earnings are expected on August 6th.