Mixed options sentiment in Pinduoduo (PDD), with shares up 42c, or 0.4%, near $106.34. Options volume relatively light with 31k contracts traded and calls leading puts for a put/call ratio of 0.3, compared to a typical level near 2.13. Implied volatility (IV30) dropped 1.79 near 34.39,and below the 52wk median, suggesting an expected daily move of $2.30. Put-call skew steepened, indicating increased demand for downside protection.
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