Peabody Energy put volume heavy and directionally bearish

Bearish flow noted in Peabody Energy (BTU) with 6,252 puts trading, or 1.9x expected. Most active are Nov-24 25 puts and Nov-24 29 puts, with total volume in those strikes near 3,600 contracts. The Put/Call Ratio is 3.08, while ATM IV is up nearly 3 points on the day. Earnings are expected on February 13th.