Option traders moderately bearish in Pinduoduo (PDD), with shares up $1.61, or 1.53%, near $106.84. Options volume relatively light with 3736 contracts traded and puts leading calls for a put/call ratio of 1.35, compared to a typical level near 1.56. Implied volatility (IV30) is higher by 0.9 points near 36.6,and below the 52wk median, suggesting an expected daily move of $2.46. Put-call skew steepened, indicating increased demand for downside protection.
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