Wayfair put volume heavy and directionally bearish

Bearish flow noted in Wayfair with 8,770 puts trading, or 1.5x expected. Most active are Dec-25 20 puts and Jan-25 45 puts, with total volume in those strikes near 3,600 contracts. The Put/Call Ratio is 1.60, while ATM IV is up over 4 points on the day. Earnings are expected on October 30th.