Mixed options sentiment in Alibaba (BABA), with shares up $6.42, or 3.87%, near $172.28. Options volume relatively light with 196k contracts traded and calls leading puts for a put/call ratio of 0.33, compared to a typical level near 0.5. Implied volatility (IV30) dropped 0.8 near 53.73, in the highest 10% of observations over the past year, suggesting an expected daily move of $5.83. Put-call skew steepened, indicating increased demand for downside protection.
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