Mixed options sentiment in Alibaba (BABA), with shares down 30c near $113.19. Options volume roughly in line with average with 91k contracts traded and calls leading puts for a put/call ratio of 0.38, compared to a typical level near 0.48. Implied volatility (IV30) dropped 1.37 near 30.8,in the bottom quartile of the past year, suggesting an expected daily move of $2.20. Put-call skew steepened, indicating increased demand for downside protection.
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