Tempur Sealy put volume heavy and directionally bearish

Bearish flow noted in Tempur Sealy with 8,473 puts trading, or 8x expected. Most active are Jul-24 45 puts and Jul-24 47.5 puts, with total volume in those strikes near 7,500 contracts. The Put/Call Ratio is 9.17, while ATM IV is up over 3 points on the day. Earnings are expected on August 1st.