Vertiv Holdings put volume heavy and directionally bearish

Bearish flow noted in Vertiv Holdings with 7,696 puts trading, or 2x expected. Most active are 8/14 weekly 200 puts and Sep-26 430 calls, with total volume in those strikes near 5,300 contracts. The Put/Call Ratio is 3.24, while ATM IV is up nearly 3 points on the day. Earnings are expected on July 29th.