Mixed options sentiment in Pinduoduo with shares up 3.58%

Mixed options sentiment in Pinduoduo (PDD), with shares up $4.41, or 3.58%, near $127.36. Options volume extremely heavy with 246k contracts traded and calls leading puts for a put/call ratio of 0.25, compared to a typical level near 0.71. Implied volatility (IV30) dropped 0.42 near 43.22,and below the 52wk median, suggesting an expected daily move of $3.47. Put-call skew steepened, indicating increased demand for downside protection.