Frontier Communications put volume heavy and directionally bearish

Bearish flow noted in Frontier Communications (FYBR) with 4,834 puts trading, or 1.1x expected. Most active are Jan-25 35 puts and Dec-24 35 calls, with total volume in those strikes near 5,500 contracts. The Put/Call Ratio is 6.32, while ATM IV is up over 1 point on the day.