Mixed options sentiment in Pinduoduo with shares up 0.89%

Mixed options sentiment in Pinduoduo (PDD), with shares up $1.10, or 0.89%, near $124.97. Options volume relatively light with 35k contracts traded and calls leading puts for a put/call ratio of 0.61, compared to a typical level near 0.55. Implied volatility (IV30) dropped 0.15 near 29.06,in the lowest 10% of observations over the past year, suggesting an expected daily move of $2.29. Put-call skew steepened, indicating increased demand for downside protection.