Moderately bullish activity in Pinduoduo (PDD), with shares up 73c, or 0.65%, near $112.77. Options volume relatively light with 22k contracts traded and calls leading puts for a put/call ratio of 0.28, compared to a typical level near 0.74. Implied volatility (IV30) is higher by 0.6 points near 46.7,and above the 52wk median, suggesting an expected daily move of $3.32. Put-call skew steepened, indicating increased demand for downside protection.
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