Mixed options sentiment in Pinduoduo with shares up 0.3%

Mixed options sentiment in Pinduoduo (PDD), with shares up 32c, or 0.3%, near $105.89. Options volume relatively light with 15k contracts traded and calls leading puts for a put/call ratio of 0.47, compared to a typical level near 1.57. Implied volatility (IV30) dropped 1.81 near 34.85,and below the 52wk median, suggesting an expected daily move of $2.32. Put-call skew steepened, indicating increased demand for downside protection.