Groupon put volume heavy and directionally bearish

Bearish flow noted in Groupon with 4,384 puts trading, or 5x expected. Most active are Nov-23 9 puts and Nov-23 18 calls, with total volume in those strikes near 4,100 contracts. The Put/Call Ratio is 6.58, while ATM IV is up nearly 10 points on the day. Earnings are expected on November 9th.