Redfin put volume heavy and directionally bearish

Bearish flow noted in Redfin (RDFN) with 3,798 puts trading, or 3x expected. Most active are Jan-26 5 puts and 2/28 weekly 8 calls, with total volume in those strikes near 3,600 contracts. The Put/Call Ratio is 3.06, while ATM IV is up over 2 points on the day. Earnings are expected on March 3rd.