Suncor put volume heavy and directionally bearish

Bearish flow noted in Suncor with 1,941 puts trading, or 2x expected. Most active are 5/10 weekly 38.5 puts and Jun-24 34 calls, with total volume in those strikes near 1,500 contracts. The Put/Call Ratio is 1.95, while ATM IV is up nearly 4 points on the day. Earnings are expected on May 7th.