Option traders moderately bearish in Alibaba (BABA), with shares down 78c near $125.28. Options volume relatively light with 55k contracts traded and calls leading puts for a put/call ratio of 0.64, compared to a typical level near 0.74. Implied volatility (IV30) is higher by 1.1 points near 38.81,and below the 52wk median, suggesting an expected daily move of $3.06. Put-call skew steepened, indicating increased demand for downside protection, following an upgrade to Buy at US Tiger.
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