Diamondback Energy put volume heavy and directionally bearish

Bearish flow noted in Diamondback Energy with 2,060 puts trading, or 1.9x expected. Most active are Jun-23 127.85 puts and Apr-23 145 calls, with total volume in those strikes near 2,000 contracts. The Put/Call Ratio is 1.71, while ATM IV is up nearly 2 points on the day. Earnings are expected on May 1st.