KKR put volume heavy and directionally bearish

Bearish flow noted in KKR (KKR) with 2,202 puts trading, or 1.8x expected. Most active are Jan-25 120 puts and Jan-27 230 calls, with total volume in those strikes near 2,000 contracts. The Put/Call Ratio is 10.01, while ATM IV is up nearly 4 points on the day. Earnings are expected on January 28th.