NRG Energy put volume heavy and directionally bearish

Bearish flow noted in NRG Energy with 3,434 puts trading, or 1.8x expected. Most active are Jul-24 75 puts and Jan-25 100 calls, with total volume in those strikes near 2,100 contracts. The Put/Call Ratio is 1.52, while ATM IV is up nearly 3 points on the day. Earnings are expected on August 6th.