Zillow put volume heavy and directionally bearish

Bearish flow noted in Zillow with 3,183 puts trading, or 1.3x expected. Most active are Jun-24 35 puts and 5/31 weekly 40.5 puts, with total volume in those strikes near 2,200 contracts. The Put/Call Ratio is 1.62, while ATM IV is up nearly 2 points on the day. Earnings are expected on July 31st.