KeyCorp put volume heavy and directionally bearish

Bearish flow noted in KeyCorp with 8,316 puts trading, or 1.9x expected. Most active are 6/28 weekly 13 puts and Jun-24 11 puts, with total volume in those strikes near 6,400 contracts. The Put/Call Ratio is 1.86, while ATM IV is up nearly 11 points on the day. Earnings are expected on July 18th.