V F Corp put volume heavy and directionally bearish

Bearish flow noted in V F Corp with 2,616 puts trading, or 1.5x expected. Most active are 7/26 weekly 13.5 puts and Jul-24 15 calls, with total volume in those strikes near 2,400 contracts. The Put/Call Ratio is 2.44, while ATM IV is up nearly 2 points on the day. Earnings are expected on July 30th.