BP put volume heavy and directionally bearish

Bearish flow noted in BP with 11,885 puts trading, or 2x expected. Most active are Apr-23 33 puts and 12/2 weekly 35.5 calls, with total volume in those strikes near 6,900 contracts. The Put/Call Ratio is 1.53, while ATM IV is up over 2 points on the day. Earnings are expected on February 7th.