Suncor put volume heavy and directionally bearish

Bearish flow noted in Suncor with 7,197 puts trading, or 4x expected. Most active are Sep-24 35 puts and 5/10 weekly 38.5 puts, with total volume in those strikes near 3,800 contracts. The Put/Call Ratio is 1.54, while ATM IV is up nearly 10 points on the day. Earnings are expected on August 21st.