Option traders moderately bearish in Pinduoduo with shares down 3.02%

Option traders moderately bearish in Pinduoduo (PDD), with shares down $3.13 near $100.61. Options volume relatively light with 51k contracts traded and puts leading calls for a put/call ratio of 1.39, compared to a typical level near 0.87. Implied volatility (IV30) is higher by 0.5 points near 34.33,and below the 52wk median, suggesting an expected daily move of $2.18. Put-call skew flattened, suggesting a modestly bullish tone.