Option traders moderately bearish in Alibaba (BABA), with shares down $1.68 near $122.06. Options volume relatively light with 114k contracts traded and calls leading puts for a put/call ratio of 0.69, compared to a typical level near 0.74. Implied volatility (IV30) is higher by 0.3 points near 38.95,and below the 52wk median, suggesting an expected daily move of $2.99. Put-call skew steepened, indicating increased demand for downside protection.
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