Moderately bullish activity in Alibaba with shares up 1.62%

Moderately bullish activity in Alibaba (BABA), with shares up $2.08, or 1.62%, near $130.50. Options volume roughly in line with average with 37k contracts traded and calls leading puts for a put/call ratio of 0.43, compared to a typical level near 0.39. Implied volatility (IV30) is higher by 1.1 points near 48.01,in the top quartile of the past year, suggesting an expected daily move of $3.95. Put-call skew steepened, indicating increased demand for downside protection.Looking ahead: Alibaba (BABA) will report earnings before the open on 2026-08-20.Option markets are pricing in a 50% probability of a move greater than 6.59% or $8.60.