DocuSign put volume heavy and directionally bearish

Bearish flow noted in DocuSign (DOCU) with 4,608 puts trading, or 2x expected. Most active are 2/28 weekly 72 puts and Mar-25 80 puts, with total volume in those strikes near 2,100 contracts. The Put/Call Ratio is 1.88, while ATM IV is up over 2 points on the day. Earnings are expected on March 13th.