Moderately bullish activity in Pinduoduo (PDD), with shares up $2.96, or 2.55%, near $119.04. Options volume relatively light with 23k contracts traded and calls leading puts for a put/call ratio of 0.35, compared to a typical level near 0.75. Implied volatility (IV30) is higher by 1.5 points near 26.71,in the lowest 10% of observations over the past year, suggesting an expected daily move of $2.00. Put-call skew flattened, suggesting a modestly bullish tone.
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