Mixed options sentiment in Alibaba with shares down 2.68%

Mixed options sentiment in Alibaba (BABA), with shares down $3.40 near $123.47. Options volume running well above average with 114k contracts traded and calls leading puts for a put/call ratio of 0.38, compared to a typical level near 0.31. Implied volatility (IV30) dropped 0.94 near 44.77,and above the 52wk median, suggesting an expected daily move of $3.48. Put-call skew flattened, suggesting a modestly bullish tone.Looking ahead: Alibaba (BABA) will report earnings before the open on 2025-08-21.Option markets are pricing in a 50% probability of a move greater than -5.03% or $-6.21.