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Archer Aviation put volume heavy and directionally bearish

Bearish flow noted in Archer Aviation (ACHR) with 18,809 puts trading, or 4x expected. Most active are 5/2 weekly 7 puts and Apr-25 7.5 puts, with total volume in those strikes near 12,200 contracts. The Put/Call Ratio is 1.84, while ATM IV is up nearly 8 points on the day. Earnings are expected on May 8th.

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