Blackstone Mortgage put volume heavy and directionally bearish

Bearish flow noted in Blackstone Mortgage with 3,393 puts trading, or 1.6x expected. Most active are May-23 16 puts and Jan-24 18 puts, with total volume in those strikes near 2,400 contracts. The Put/Call Ratio is 8.70, while ATM IV is up over 3 points on the day. Earnings are expected on April 26th.