Bullish flow in Alibaba (BABA), with shares up $6.94, or 4.15%, near $173.99. Options volume roughly in line with average with 260k contracts traded and calls leading puts for a put/call ratio of 0.32, compared to a typical level near 0.52. Implied volatility (IV30) is higher by 1.4 points near 55.2, in the highest 10% of observations over the past year, suggesting an expected daily move of $6.05. Put-call skew flattened, suggesting a modestly bullish tone.
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