Tal Education Group put volume heavy and directionally bearish

Bearish flow noted in Tal Education Group with 4,200 puts trading, or 16x expected. Most active are Aug-23 5 puts and 5/26 weekly 4.5 puts, with total volume in those strikes near 4,100 contracts. The Put/Call Ratio is 11.73, while ATM IV is up over 2 points on the day. Earnings are expected on July 27th.