Arista Networks put volume heavy and directionally bearish

Bearish flow noted in Arista Networks (ANET) with 11,534 puts trading, or 3x expected. Most active are Jan-25 90 puts and Jan-25 117.5 calls, with total volume in those strikes near 9,700 contracts. The Put/Call Ratio is 2.88, while ATM IV is up over 1 point on the day. Earnings are expected on February 10th.