Palantir Technologies put volume heavy and directionally bearish

Bearish flow noted in Palantir (PLTR) Technologies with 122,116 puts trading, or 1.5x expected. Most active are 4/25 weekly 60 puts and 4/4 weekly 90 calls, with total volume in those strikes near 68,000 contracts. The Put/Call Ratio is 1.85, while ATM IV is up over 2 points on the day. Earnings are expected on May 5th.