Mixed options sentiment in Pinduoduo with shares down 0.32%

Mixed options sentiment in Pinduoduo (PDD), with shares down 34c near $104.72. Options volume relatively light with 23k contracts traded and calls leading puts for a put/call ratio of 0.48, compared to a typical level near 1.42. Implied volatility (IV30) dropped 1.92 near 35.44,in the lowest 10% of observations over the past year, suggesting an expected daily move of $2.34. Put-call skew steepened, indicating increased demand for downside protection.