BABA options Trade.. Hit $160 by Tues, and $175 by Thnxgiving

BABA

Tech: Has had trouble breaking thru major 382 fib level. Shallow “2 wave” due to market rally and AMZN (same sector) price action..

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 enough BUY volume “Boom POW” momentum to get it over the 382 wall it needs to climb... and plus, JD.com ain’t been doin all that well w market share... #JD .com 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... Lol

Order avbruten:

BABA broke below $144.. updated pitchfork and time horizon to follow

Trade stängt: målet nått:

BOOM... $160 target achieved