Sweetgreen put volume heavy and directionally bearish

Bearish flow noted in Sweetgreen (SG) with 1,047 puts trading, or 3x expected. Most active are 2/27 weekly 5 puts and Jan-27 23 calls, with total volume in those strikes near 1,000 contracts. The Put/Call Ratio is 4.55, while ATM IV is up over 2 points on the day. Earnings are expected on February 26th.