Foot Locker put volume heavy and directionally bearish

Bearish flow noted in Foot Locker with 8,065 puts trading, or 12x expected. Most active are Mar-23 37.5 puts and Mar-23 38.5 puts, with total volume in those strikes near 6,000 contracts. The Put/Call Ratio is 2.58, while ATM IV is up over 5 points on the day. Earnings are expected on March 20th.