DocuSign put volume heavy and directionally bearish

Bearish flow noted in DocuSign with 2,420 puts trading, or 2x expected. Most active are Jul-24 55 puts and Jul-24 60 calls, with total volume in those strikes near 2,200 contracts. The Put/Call Ratio is 2.57, while ATM IV is up over 1 point on the day. Earnings are expected on September 5th.