Replimune Group put volume heavy and directionally bearish

Bearish flow noted in Replimune Group with 2,615 puts trading, or 1.8x expected. Most active are Aug-26 7 puts and 8/7 weekly 15 calls, with total volume in those strikes near 2,200 contracts. The Put/Call Ratio is 1.67, while ATM IV is up over 7 points on the day. Earnings are expected on August 6th.