CSX put volume heavy and directionally bearish

Bearish flow noted in CSX with 8,392 puts trading, or 2x expected. Most active are Feb-23 32.5 puts and Jun-23 32.5 calls, with total volume in those strikes near 9,300 contracts. The Put/Call Ratio is 2.10, while ATM IV is up over 1 point on the day. Earnings are expected on April 19th.