Vodafone put volume heavy and directionally bearish

Bearish flow noted in Vodafone with 1,356 puts trading, or 1.8x expected. Most active are May-24 8 puts and Jul-24 8 puts, with total volume in those strikes near 860 contracts. The Put/Call Ratio is 1.85, while ATM IV is up over 2 points on the day. Earnings are expected on May 14th.