Seagate put volume heavy and directionally bearish

Bearish flow noted in Seagate with 3,684 puts trading, or 1.7x expected. Most active are Jan-23 51 puts and 1/6 weekly 53 puts, with total volume in those strikes near 2,500 contracts. The Put/Call Ratio is 2.55, while ATM IV is up nearly 5 points on the day. Earnings are expected on January 25th.