AdaptHealth put volume heavy and directionally bearish

Bearish flow noted in AdaptHealth (AHCO) with 5,513 puts trading, or 2x expected. Most active are Jun-25 10 puts and Dec-24 12.5 calls, with total volume in those strikes near 8,800 contracts. The Put/Call Ratio is 1.54, while ATM IV is up over 5 points on the day. Earnings are expected on February 25th.