Reallifetrading

Update on BABA bear call spread

Long
NYSE:BABA   Alibaba Group Holdings Ltd.
5/21/15 Leda and others in a 92.50 / 94.50 bear call spread.
Unraveled on 5/21/15.
Nice retest gap today. Appears to be closing over the strong resistance of 92. Likely will pull back a TAD on the 15 min and hourly but edge does appear bullish for the next few weeks.

Sell to open the 100 May week 5 Call creating a bull call spread.

Stop for this bull call spread should be approximately 90.

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