Teladoc put volume heavy and directionally bearish

Bearish flow noted in Teladoc with 4,590 puts trading, or 2x expected. Most active are Jan-25 5 puts and 9/6 weekly 10 calls, with total volume in those strikes near 4,100 contracts. The Put/Call Ratio is 1.69, while ATM IV is up over 1 point on the day. Earnings are expected on October 22nd.