Coty put volume heavy and directionally bearish

Bearish flow noted in Coty with 24,558 puts trading, or 13x expected. Most active are 9/1 weekly 11 puts and Oct-23 11 puts, with total volume in those strikes near 17,700 contracts. The Put/Call Ratio is 5.67, while ATM IV is up nearly 4 points on the day. Earnings are expected on August 22nd.