Mixed options sentiment in Alibaba with shares down 1.09%

Mixed options sentiment in Alibaba (BABA), with shares down $1.81 near $164.69. Options volume relatively light with 97k contracts traded and calls leading puts for a put/call ratio of 0.42, compared to a typical level near 0.58. Implied volatility (IV30) dropped 1.24 near 47.61,and above the 52wk median, suggesting an expected daily move of $4.94. Put-call skew steepened, indicating increased demand for downside protection.Looking ahead: Alibaba (BABA) will report earnings before the open on 2026-02-24.Option markets are pricing in a 50% probability of a move greater than -5.03% or $-8.28.