AES Corp. put volume heavy and directionally bearish

Bearish flow noted in AES Corp. (AES) with 5,367 puts trading, or 1.0x expected. Most active are Dec-24 13 puts and Feb-25 15 calls, with total volume in those strikes near 5,100 contracts. The Put/Call Ratio is 4.02, while ATM IV is up nearly 2 points on the day. Earnings are expected on February 24th.