Urban Outfitters put volume heavy and directionally bearish

Bearish flow noted in Urban Outfitters with 5,008 puts trading, or 4x expected. Most active are 1/13 weekly 25 puts and 1/13 weekly 24 calls, with total volume in those strikes near 4,900 contracts. The Put/Call Ratio is 58.92, while ATM IV is up nearly 2 points on the day. Earnings are expected on February 28th.