Baxter put volume heavy and directionally bearish

Bearish flow noted in Baxter with 14,819 puts trading, or 13x expected. Most active are May-23 42.5 calls and 3/10 weekly 34 puts, with total volume in those strikes near 8,600 contracts. The Put/Call Ratio is 1.58, while ATM IV is up over 1 point on the day. Earnings are expected on February 9th.