Baxter put volume heavy and directionally bearish

Bearish flow noted in Baxter (BAX) with 1,626 puts trading, or 1.1x expected. Most active are Dec-24 30 puts and Nov-24 29 puts, with total volume in those strikes near 1,200 contracts. The Put/Call Ratio is 4.10, while ATM IV is up over 2 points on the day. Earnings are expected on February 6th.