Lemonade put volume heavy and directionally bearish

Bearish flow noted in Lemonade (LMND) with 5,076 puts trading, or 1.7x expected. Most active are 12/6 weekly 51.5 puts and 11/29 weekly 52 calls, with total volume in those strikes near 2,900 contracts. The Put/Call Ratio is 1.69, while ATM IV is up over 1 point on the day. Earnings are expected on February 25th.