Frontline put volume heavy and directionally bearish

Bearish flow noted in Frontline with 2,603 puts trading, or 1.9x expected. Most active are Mar-23 13 puts and Feb-23 14 puts, with total volume in those strikes near 1,800 contracts. The Put/Call Ratio is 4.59, while ATM IV is up over 1 point on the day. Earnings are expected on February 28th.