Datadog put volume heavy and directionally bearish

Bearish flow noted in Datadog with 14,835 puts trading, or 4x expected. Most active are Feb-23 78 puts and Feb-23 85 puts, with total volume in those strikes near 9,700 contracts. The Put/Call Ratio is 2.47, while ATM IV is up over 1 point on the day. Earnings are expected on May 10th.