Bearish flow noted in DocuSign (DOCU) with 1,229 puts trading, or 1.8x expected. Most active are Aug-25 66 puts and Sep-25 60 puts, with total volume in those strikes near 710 contracts. The Put/Call Ratio is 2.08, while ATM IV is up nearly 2 points on the day. Earnings are expected on September 4th.
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