Tapestry put volume heavy and directionally bearish

Bearish flow noted in Tapestry with 3,208 puts trading, or 1.9x expected. Most active are Mar-23 42 puts and Mar-23 40 puts, with total volume in those strikes near 3,100 contracts. The Put/Call Ratio is 29.16, while ATM IV is up nearly 2 points on the day. Earnings are expected on May 11th.