Vertex Energy put volume heavy and directionally bearish

Bearish flow noted in Vertex Energy with 3,465 puts trading, or 4x expected. Most active are Jan-24 5 puts and Jul-23 5 puts, with total volume in those strikes near 3,000 contracts. The Put/Call Ratio is 3.22, while ATM IV is up over 2 points on the day. Earnings are expected on August 8th.