EBay put volume heavy and directionally bearish

Bearish flow noted in EBay with 3,827 puts trading, or 1.9x expected. Most active are 8/2 weekly 51 puts and Sep-24 55 calls, with total volume in those strikes near 3,100 contracts. The Put/Call Ratio is 2.43, while ATM IV is up nearly 2 points on the day. Earnings are expected on July 31st.