Groupon put volume heavy and directionally bearish

Bearish flow noted in Groupon (GRPN) with 1,008 puts trading, or 1.9x expected. Most active are Feb-25 11 puts and 12/27 weekly 11 calls, with total volume in those strikes near 930 contracts. The Put/Call Ratio is 1.78, while ATM IV is up nearly 21 points on the day. Earnings are expected on March 13th.