Mixed options sentiment in Pinduoduo (PDD), with shares up 20c, or 0.16%, near $124.59. Options volume roughly in line with average with 75k contracts traded and calls leading puts for a put/call ratio of 0.29, compared to a typical level near 0.56. Implied volatility (IV30) dropped 0.46 near 29.43,in the lowest 10% of observations over the past year, suggesting an expected daily move of $2.31. Put-call skew steepened, indicating increased demand for downside protection.
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