Mixed options sentiment in Alibaba with shares down 2.69%

Mixed options sentiment in Alibaba (BABA), with shares down $3.98 near $144.07. Options volume running well above average with 253k contracts traded and calls leading puts for a put/call ratio of 0.74, compared to a typical level near 0.66. Implied volatility (IV30) dropped 0.07 near 44.97,and above the 52wk median, suggesting an expected daily move of $4.08. Put-call skew steepened, indicating increased demand for downside protection.Looking ahead: Alibaba (BABA) will report earnings before the open on 2026-03-05.Option markets are pricing in a 50% probability of a move greater than -5.03% or $-7.24.