Wynn Resorts put volume heavy and directionally bearish

Bearish flow noted in Wynn Resorts with 13,973 puts trading, or 5x expected. Most active are Aug-23 90 puts and 8/11 weekly 105 calls, with total volume in those strikes near 5,900 contracts. The Put/Call Ratio is 2.06, while ATM IV is up nearly 2 points on the day. Earnings are expected on August 9th.