Mixed options sentiment in Pinduoduo with shares up 1.95%

Mixed options sentiment in Pinduoduo (PDD), with shares up $2.05, or 1.95%, near $107.18. Options volume relatively light with 8695 contracts traded and calls leading puts for a put/call ratio of 0.25, compared to a typical level near 1.38. Implied volatility (IV30) dropped 0.02 near 35.3,in the lowest 10% of observations over the past year, suggesting an expected daily move of $2.38. Put-call skew steepened, indicating increased demand for downside protection.