CarMax put volume heavy and directionally bearish

Bearish flow noted in CarMax with 7,803 puts trading, or 1.0x expected. Most active are Feb-23 55 puts and Feb-23 60 puts, with total volume in those strikes near 4,100 contracts. The Put/Call Ratio is 8.80, while ATM IV is up nearly 2 points on the day. Earnings are expected on April 11th.