Mixed options sentiment in Alibaba (BABA), with shares down $4.29 near $172.88. Options volume roughly in line with average with 64k contracts traded and calls leading puts for a put/call ratio of 0.51, compared to a typical level near 0.93. Implied volatility (IV30) dropped 1.7 near 44.12,and above the 52wk median, suggesting an expected daily move of $4.80. Put-call skew steepened, indicating increased demand for downside protection, following an upgrade to Buy at Arete.
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