NRG Energy put volume heavy and directionally bearish

Bearish flow noted in NRG Energy with 3,360 puts trading, or 4x expected. Most active are Jul-24 80 puts and Jun-24 80 puts, with total volume in those strikes near 2,900 contracts. The Put/Call Ratio is 2.49, while ATM IV is up nearly 3 points on the day. Earnings are expected on August 6th.