Moderately bullish activity in Pinduoduo (PDD), with shares up 84c, or 0.75%, near $113.77. Options volume relatively light with 16k contracts traded and calls leading puts for a put/call ratio of 0.77, compared to a typical level near 0.77. Implied volatility (IV30) is higher by 1.0 points near 45.07,and below the 52wk median, suggesting an expected daily move of $3.23. Put-call skew steepened, indicating increased demand for downside protection.
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