Bearish flow noted in Pinduoduo with 45,879 puts trading, or 9x expected. Most active are 9/8 weekly 96 puts and 9/8 weekly 95 puts, with total volume in those strikes near 13,400 contracts. The Put/Call Ratio is 2.79, while ATM IV is up over 3 points on the day. Earnings are expected on November 27th.
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