New Fortress Energy put volume heavy and directionally bearish

Bearish flow noted in New Fortress Energy (NFE) with 3,095 puts trading, or 2.0x expected. Most active are Jan-26 10 puts and 3/7 weekly 12 puts, with total volume in those strikes near 1,400 contracts. The Put/Call Ratio is 2.14, while ATM IV is up over 1 point on the day. Earnings are expected on February 27th.