Teva put volume heavy and directionally bearish

Bearish flow noted in Teva (TEVA) with 3,687 puts trading, or 4x expected. Most active are Dec-24 17 puts and Jan-25 17 calls, with total volume in those strikes near 2,600 contracts. The Put/Call Ratio is 2.06, while ATM IV is up over 1 point on the day. Earnings are expected on January 29th.