Altria Group put volume heavy and directionally bearish

Bearish flow noted in Altria Group with 21,490 puts trading, or 3x expected. Most active are Mar-23 46 puts and Mar-23 45 puts, with total volume in those strikes near 15,700 contracts. The Put/Call Ratio is 3.10, while ATM IV is up nearly 2 points on the day. Earnings are expected on April 27th.