Big Lots put volume heavy and directionally bearish

Bearish flow noted in Big Lots with 1,007 puts trading, or 1.0x expected. Most active are Sep-23 10 puts and Jul-23 10 puts, with total volume in those strikes near 520 contracts. The Put/Call Ratio is 2.72, while ATM IV is up nearly 2 points on the day. Earnings are expected on May 26th.