Lowe’s put volume heavy and directionally bearish

Bearish flow noted in Lowe’s with 3,646 puts trading, or 2x expected. Most active are 8/2 weekly 215 puts and Aug-24 230 puts, with total volume in those strikes near 2,800 contracts. The Put/Call Ratio is 4.53, while ATM IV is up over 1 point on the day. Earnings are expected on August 20th.