Weibo put volume heavy and directionally bearish

Bearish flow noted in Weibo with 2,681 puts trading, or 7x expected. Most active are Jan-26 6.7 puts and 8/30 weekly 8 calls, with total volume in those strikes near 2,500 contracts. The Put/Call Ratio is 9.82, while ATM IV is up over 3 points on the day. Earnings are expected on November 7th.