PDD call volume above normal and directionally bullish
Unusually heavy call activity in PDD concentrated in a long-dated 90 strike suggests a bullish directional bias; total option volume reached 11,119 with a put/call ratio of 0.01.
PDD saw unusually large options activity on 2026-06-02, with total volume of 11,119 driven heavily by calls (call_volume 11,016 vs put_volume 103) and a put/call ratio of 0.01. Total premium traded was 7,991,891.0, with call premium of 7,953,621.0 and net_sentiment_premium of 7,343,249.0. Volume was 5.44x average and in the 94.4 percentile; total premium hit the 100.0 percentile. Implied volatility measures were moderate (iv30_pct 37.81, average_iv_pct 41.3) and the 30-day expected move was 3.14% (±2.78, range 85.75–91.31). The most active contract: 2026-09-18 90 call (contract_volume 9,950, total_premium 7,882,063). Earnings date: 2026-08-24.