I carry a P32 in my pocket.
Your ankle is a terrible place to carry a gun, except in very specialized circumstances.
As for there being no reason for rhe .32 when larger calibers are available:
The P32 is smaller, lighter, and thinner than any of the .380s, 9mms, or 38s.
The recoil on the .32 is far less, making follow-up shots easy. Not so with the tiny .380s and 9mms. The .32 is less susceptible to "limp wristing," too. The P32 also seems to be, in general, more reliable than the pocket .380s of similar size.
There are darned few 9mms and no .38s that I have ever been able to comfortably pocket carry.