Option traders moderately bearish in Pinduoduo (PDD), with shares up $2.02, or 1.78%, near $116.03. Options volume roughly in line with average with 72k contracts traded and puts leading calls for a put/call ratio of 1.37, compared to a typical level near 0.68. Implied volatility (IV30) is higher by 1.2 points near 29.68,in the lowest 10% of observations over the past year, suggesting an expected daily move of $2.17. Put-call skew steepened, indicating increased demand for downside protection.
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