Pure Storage put volume heavy and directionally bearish

Bearish flow noted in Pure Storage with 11,180 puts trading, or 18x expected. Most active are Mar-24 40 puts and Mar-24 41 puts, with total volume in those strikes near 6,500 contracts. The Put/Call Ratio is 3.56, while ATM IV is up over 4 points on the day. Earnings are expected on February 28th.