Colgate Palmolive put volume heavy and directionally bearish

Bearish flow noted in Colgate Palmolive with 6,555 puts trading, or 11x expected. Most active are May-23 60 puts and Feb-23 77.5 calls, with total volume in those strikes near 6,500 contracts. The Put/Call Ratio is 14.41, while ATM IV is up over 1 point on the day. Earnings are expected on January 27th.