Joby Aviation put volume heavy and directionally bearish

Bearish flow noted in Joby Aviation with 1,392 puts trading, or 1.6x expected. Most active are Jul-23 5 puts and Aug-23 7.5 calls, with total volume in those strikes near 1,100 contracts. The Put/Call Ratio is 1.50, while ATM IV is up over 1 point on the day. Earnings are expected on August 9th.