Moderately bullish activity in Alibaba (BABA), with shares down $7.44 near $173.68. Options volume roughly in line with average with 366k contracts traded and calls leading puts for a put/call ratio of 0.47, compared to a typical level near 0.45. Implied volatility (IV30) is higher by 1.1 points near 46.74,and above the 52wk median, suggesting an expected daily move of $5.11. Put-call skew flattened, suggesting a modestly bullish tone, following an upgrade to Buy at Erste Group.
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