Doubling Down on BABA
Currently holding calls for Jan15 hedged with 220Jan15 puts incase it decides to go for that double bottom at 211.
Now I see either one of two cases happening here, if we compare to its historical trends;
Case 1: Similarly to 2017-2018, we see a short rally (2-3 weeks) followed by another double bottom retest at the 211 level. Ideal for medium term option holders to get a way out with profits and reinvest in the coming double bottom.
Case 2: Similarly to the most recent correction, we see a huge volatile week after that candle that closed above 0.618 level where short term option holders have a chance to profit as well as lock in some shares if it did retest the 211 level during that week.
I do not see it breaking 211 whatsoever simply based on the history of the stock. Always stay open to all possibilities and outcomes nevertheless.
Please share your thoughts :)
BABA
Now I see either one of two cases happening here, if we compare to its historical trends;
Case 1: Similarly to 2017-2018, we see a short rally (2-3 weeks) followed by another double bottom retest at the 211 level. Ideal for medium term option holders to get a way out with profits and reinvest in the coming double bottom.
Case 2: Similarly to the most recent correction, we see a huge volatile week after that candle that closed above 0.618 level where short term option holders have a chance to profit as well as lock in some shares if it did retest the 211 level during that week.
I do not see it breaking 211 whatsoever simply based on the history of the stock. Always stay open to all possibilities and outcomes nevertheless.
Please share your thoughts :)
BABA
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