Crexendo Inc put volume heavy and directionally bearish

Bearish flow noted in Crexendo Inc with 2,642 puts trading, or 7x expected. Most active are Oct-24 72.5 puts and Oct-24 77.5 puts, with total volume in those strikes near 2,500 contracts. The Put/Call Ratio is 31.45, while ATM IV is up nearly 3 points on the day. Earnings are expected on October 29th.