Medical Properties Trust put volume heavy and directionally bearish

Bearish flow noted in Medical Properties Trust with 8,597 puts trading, or 1.3x expected. Most active are Feb-23 11 puts and Apr-23 10 puts, with total volume in those strikes near 7,000 contracts. The Put/Call Ratio is 13.58, while ATM IV is up nearly 3 points on the day. Earnings are expected on February 2nd.