Moderately bullish activity in Alibaba with shares up 1.34%

Moderately bullish activity in Alibaba (BABA), with shares up $1.75, or 1.34%, near $132.18. Options volume roughly in line with average with 52k contracts traded and calls leading puts for a put/call ratio of 0.24, compared to a typical level near 0.48. Implied volatility (IV30) dropped 0.23 near 45.81,and above the 52wk median, suggesting an expected daily move of $3.81. Put-call skew flattened, suggesting a modestly bullish tone, following an upgrade to Buy at Freedom Broker.Looking ahead: Alibaba (BABA) will report earnings before the open on 2026-05-13.Option markets are pricing in a 50% probability of a move greater than 4.67% or $6.17.