Dollar Tree put volume heavy and directionally bearish

Bearish flow noted in Dollar Tree with 5,429 puts trading, or 3x expected. Most active are 1/27 weekly 148 puts and 1/27 weekly 147 puts, with total volume in those strikes near 4,100 contracts. The Put/Call Ratio is 3.90, while ATM IV is up over 1 point on the day. Earnings are expected on March 1st.