Nordstrom put volume heavy and directionally bearish

Bearish flow noted in Nordstrom with 53,545 puts trading, or 13x expected. Most active are Mar-23 25 puts and 2/3 weekly 30 calls, with total volume in those strikes near 18,300 contracts. The Put/Call Ratio is 1.77, while ATM IV is up over 29 points on the day. Earnings are expected on March 2nd.