Bearish flow noted in Pinduoduo with 6,588 puts trading, or 1.1x expected. Most active are Sep-24 90 puts and Jun-24 95 puts, with total volume in those strikes near 1,200 contracts. The Put/Call Ratio is 2.01, while ATM IV is up over 2 points on the day. Earnings are expected on March 20th.
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