Mixed options sentiment in Alibaba (BABA), with shares down $1.25 near $134.40. Options volume relatively light with 58k contracts traded and calls leading puts for a put/call ratio of 0.16, compared to a typical level near 0.36. Implied volatility (IV30) dropped 0.67 near 40.24,and below the 52wk median, suggesting an expected daily move of $3.41. Put-call skew steepened, indicating increased demand for downside protection.
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