Dutch Bros put volume heavy and directionally bearish

Bearish flow noted in Dutch Bros with 3,953 puts trading, or 15x expected. Most active are 1/13 weekly 29 puts and Jan-23 25 puts, with total volume in those strikes near 3,600 contracts. The Put/Call Ratio is 14.17, while ATM IV is up nearly 4 points on the day. Earnings are expected on February 28th.