Mixed options sentiment in Pinduoduo with shares up 1.15%

Mixed options sentiment in Pinduoduo (PDD), with shares up $1.16, or 1.15%, near $101.76. Options volume relatively light with 70k contracts traded and calls leading puts for a put/call ratio of 0.79, compared to a typical level near 0.81. Implied volatility (IV30) dropped 0.03 near 35.89,in the bottom quartile of the past year, suggesting an expected daily move of $2.30. Put-call skew steepened, indicating increased demand for downside protection.