Wolfspeed put volume heavy and directionally bearish

Bearish flow noted in Wolfspeed with 9,297 puts trading, or 1.8x expected. Most active are Jan-25 15 puts and 8/9 weekly 20 calls, with total volume in those strikes near 6,300 contracts. The Put/Call Ratio is 1.87, while ATM IV is up over 4 points on the day. Earnings are expected on August 21st.