BNY Mellon put volume heavy and directionally bearish

Bearish flow noted in BNY Mellon with 1,932 puts trading, or 1.5x expected. Most active are Jan-24 45 puts and Jan-23 50 calls, with total volume in those strikes near 1,700 contracts. The Put/Call Ratio is 1.98, while ATM IV is up over 1 point on the day. Earnings are expected on April 18th.