ALTC Acquisition Corp put volume heavy and directionally bearish

Bearish flow noted in ALTC Acquisition Corp with 5,311 puts trading, or 6x expected. Most active are Dec-24 15 puts and Aug-24 10 calls, with total volume in those strikes near 4,500 contracts. The Put/Call Ratio is 2.41, while ATM IV is up over 13 points on the day. Earnings are expected on August 13th.