BABA options trade UPDATE. $160 by 11-15. $175 by Thanxgiving
BABA
Options strategy still the same.
Tech Spec: Has had trouble breaking thru major 382 fib level..
Trade Rationale: Alibaba’s Singles day (Amazon prime day equivalent) is Monday 11/11/18.. BABA reported highest consumer signups ever and last years 1 day rake was $24B.. I think the if news reports anything remotely good on the numbers, that will give NYSE:BABA -3.33% enough BUY volume “Boom POW” momentum to get it over the 382 wall it needs to climb... and plus, JD -1.12% .com ain’t been doin all that well w market share... NASDAQ:JD -1.12% down -49% YTD ~ (-$30.9B mrkt cap)
and BABA down -18% YTD -$82.5B mrkt cap
Option strategy.
1. Long Nov 23 $160 Call Option, Trading at $0.78 currently.. when it hits, 451% return
Stop loss: think, If Baba < $144 = BAD
2. Long Dec 7, $175 Call Option, Currently trading $0.47... If it hits, 1,581% return..
Comment:
Push expiration out to the Dec 18th calls
Comment:
These option strategies are incorrect. Been spending too many all nighters, I confused AMZN expirations w BABA’s strike price... the correct call options are:
Long Dec 18, $160 strike call
Long Dec 18, $175 strike call.
My bad, documenting trades takes some getting used to. I’ll be more careful in the future.
Long Dec 18, $160 strike call
Long Dec 18, $175 strike call.
My bad, documenting trades takes some getting used to. I’ll be more careful in the future.
Comment:
Nov 30th $157.5 Call and the
Nov 30th $155 Call (less riskier)...
They’re are none for December yet.
Nov 30th $155 Call (less riskier)...
They’re are none for December yet.
Comment:
ALIBABA JUST BLEW THE DOORS OFF 1 day sales!!! Biggest 1 day in BABAs history, $31B in 1 day.
Trade closed: target reached:
BABA will open above $160! Target hit... On to the next trade..