Icahn Enterprises put volume heavy and directionally bearish

Bearish flow noted in Icahn Enterprises with 6,912 puts trading, or 1.8x expected. Most active are Jul-23 25 puts and Jun-23 28 calls, with total volume in those strikes near 5,500 contracts. The Put/Call Ratio is 2.50, while ATM IV is up nearly 5 points on the day. Earnings are expected on August 3rd.