Moderately bullish activity in Alibaba (BABA), with shares up $2.31, or 1.73%, near $135.56. Options volume roughly in line with average with 117k contracts traded and calls leading puts for a put/call ratio of 0.48, compared to a typical level near 0.36. Implied volatility (IV30) is higher by 0.1 points near 40.88,and below the 52wk median, suggesting an expected daily move of $3.49. Put-call skew steepened, indicating increased demand for downside protection.
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