Sweetgreen put volume heavy and directionally bearish

Bearish flow noted in Sweetgreen (SG) with 22,109 puts trading, or 7x expected. Most active are 9/26 weekly 8.5 puts and 9/26 weekly 9 puts, with total volume in those strikes near 9,500 contracts. The Put/Call Ratio is 4.22, while ATM IV is up nearly 5 points on the day. Earnings are expected on November 6th.