Baxter put volume heavy and directionally bearish

Bearish flow noted in Baxter with 4,061 puts trading, or 4x expected. Most active are Oct-23 45 puts and Sep-23 45 puts, with total volume in those strikes near 3,200 contracts. The Put/Call Ratio is 3.97, while ATM IV is up over 1 point on the day. Earnings are expected on October 26th.