Bath & Body Works put volume heavy and directionally bearish

Bearish flow noted in Bath & Body Works with 3,728 puts trading, or 3x expected. Most active are 8/30 weekly 30 puts and 9/6 weekly 33 calls, with total volume in those strikes near 2,500 contracts. The Put/Call Ratio is 2.31, while ATM IV is up over 2 points on the day. Earnings are expected on August 28th.