Lennar put volume heavy and directionally bearish

Bearish flow noted in Lennar with 3,532 puts trading, or 1.0x expected. Most active are Feb-23 80 puts and Jan-23 80 puts, with total volume in those strikes near 1,600 contracts. The Put/Call Ratio is 2.17, while ATM IV is up over 3 points on the day. Earnings are expected on March 15th.