Avantor put volume heavy and directionally bearish

Bearish flow noted in Avantor with 3,958 puts trading, or 1.0x expected. Most active are Sep-24 24 puts and Sep-24 25 puts, with total volume in those strikes near 2,500 contracts. The Put/Call Ratio is 2.40, while ATM IV is up nearly 3 points on the day. Earnings are expected on October 25th.