Seagate put volume heavy and directionally bearish

Bearish flow noted in Seagate with 2,379 puts trading, or 1.2x expected. Most active are 12/2 weekly 54 puts and 12/9 weekly 80 calls, with total volume in those strikes near 1,000 contracts. The Put/Call Ratio is 1.53, while ATM IV is up nearly 3 points on the day. Earnings are expected on January 25th.