Posted by: arbiter December 4, 2017
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I had bought BABA at 140s...sold at 180s (had some Calls as well) and bought Puts last week w/ Feb expiration date but closed them today....generated a pretty nice return! As long there is cloud over the numbers that BABA says it has, I think this is going downhill ( I could have stayed in the put position for a bit long but wanted to close it out). But ultimately, I think it's going to come back though--where it settles is a matter of timing.
Bought WFC calls w/ Jan expiration date today. Tax reform, most likely to pass in some fashion, is likely to drive the price higher. Will see where it heads this week...may close it out a week or two.
Bought WFC calls w/ Jan expiration date today. Tax reform, most likely to pass in some fashion, is likely to drive the price higher. Will see where it heads this week...may close it out a week or two.