Vodafone put volume heavy and directionally bearish

Bearish flow noted in Vodafone with 3,788 puts trading, or 4x expected. Most active are Jan-26 10 puts and Jan-25 10 calls, with total volume in those strikes near 2,300 contracts. The Put/Call Ratio is 1.61, while ATM IV is up over 3 points on the day. Earnings are expected on November 12th.