V F Corp put volume heavy and directionally bearish

Bearish flow noted in V F Corp with 3,004 puts trading, or 1.8x expected. Most active are 1/13 weekly 29 puts and May-23 35 calls, with total volume in those strikes near 3,000 contracts. The Put/Call Ratio is 2.62, while ATM IV is up over 2 points on the day. Earnings are expected on January 27th.