Moderately bullish activity in Alibaba (BABA), with shares up $2.31, or 2.17%, near $108.58. Options volume roughly in line with average with 67k contracts traded and calls leading puts for a put/call ratio of 0.35, compared to a typical level near 0.43. Implied volatility (IV30) is higher by 1.0 points near 34.0,and below the 52wk median, suggesting an expected daily move of $2.33. Put-call skew steepened, indicating increased demand for downside protection.
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