Teva put volume heavy and directionally bearish

Bearish flow noted in Teva with 5,307 puts trading, or 2x expected. Most active are 4/12 weekly 13.5 puts and Jun-24 13 puts, with total volume in those strikes near 2,500 contracts. The Put/Call Ratio is 1.74, while ATM IV is up nearly 4 points on the day. Earnings are expected on May 8th.