Pinterest put volume heavy and directionally bearish

Bearish flow noted in Pinterest with 3,113 puts trading, or 1.0x expected. Most active are 6/23 weekly 25 puts and Jul-23 25 calls, with total volume in those strikes near 2,300 contracts. The Put/Call Ratio is 1.54, while ATM IV is up over 1 point on the day. Earnings are expected on July 31st.