Bearish flow noted in Pinduoduo with 36,775 puts trading, or 4x expected. Most active are 11/22 weekly 110 puts and 11/29 weekly 105 puts, with total volume in those strikes near 8,800 contracts. The Put/Call Ratio is 1.56, while ATM IV is up over 2 points on the day. Earnings are expected on November 21st.
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