1/30/2023-Unusual Options Activity In CAT

$CAT – Bearish flow noted in Caterpillar (264.21 -0.33) with 19,050 puts trading, or 1.8x expected. The Put/Call Ratio is 3.96, while ATM IV is up over 1 point on the day. Earnings are expected on 01/30. The FEB 17th 250.00 Puts are active ahead of earnings on 1/30.