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Bullish flow in Alibaba with shares up 5.88%

Bullish flow in Alibaba (BABA), with shares up $9.35, or 5.88%, near $168.35. Options volume roughly in line with average with 172k contracts traded and calls leading puts for a put/call ratio of 0.51, compared to a typical level near 0.46. Implied volatility (IV30) is higher by 2.4 points near 53.59, in the highest 10% of observations over the past year, suggesting an expected daily move of $5.68. Put-call skew flattened, suggesting a modestly bullish tone.

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