First Majestic Silver put volume heavy and directionally bearish

Bearish flow noted in First Majestic Silver with 7,818 puts trading, or 5x expected. Most active are Jun-24 7 puts and Jul-24 7 calls, with total volume in those strikes near 8,100 contracts. The Put/Call Ratio is 1.63, while ATM IV is up nearly 37 points on the day. Earnings are expected on August 1st.