Seagate put volume heavy and directionally bearish

Bearish flow noted in Seagate with 10,002 puts trading, or 2x expected. Most active are Feb-23 52.5 puts and Jan-23 51 puts, with total volume in those strikes near 5,000 contracts. The Put/Call Ratio is 2.02, while ATM IV is up over 1 point on the day. Earnings are expected on January 25th.