Lennar put volume heavy and directionally bearish

Bearish flow noted in Lennar with 3,384 puts trading, or 1.2x expected. Most active are 12/9 weekly 84 puts and 12/9 weekly 86 puts, with total volume in those strikes near 1,300 contracts. The Put/Call Ratio is 3.83, while ATM IV is up nearly 3 points on the day. Earnings are expected on December 14th.