Alibaba Group Holding Ltd BABA – Options Review
We saw the contracts we highlighted yesterday morning in the BABA chain make solid multi-bag moves. The BABA Weekly $162.50-170 Calls were our targets, and each one took off for the following moves starting at around 10AM.
$244.50 Calls – Range: 2.58-5.65 – Max Gain: 119%
$245 Calls – Range: 1.26-3.50 – Max Gain: 171%
$245.50 Calls – Range: .52-1.79 – Max Gain: 244%
$246 Calls – Range: .18-.74 – Max Gain: 311%
We also want to continue to keep our eye on these plays to close out the week*, as further increases are a possibility. While BABA’s PPS tapered back into the close, we’re seeing yet another gap up in the premarket this morning.
Wal-Mart Stores, Inc WMT
Despite seeing a pullback following its earnings report yesterday, WMT rebounded off of support and managed to close near its high of day and is up slightly in early trading this morning.
There may be an opportunity in the WMT Weekly $79.50 & $80 Calls* so we’ll have those on our radars as we wrap up another trading week.
*We don’t include mentions of weekly options contracts on a Friday without explicitly warning our readers every single time. Trading weekly options at the end of the week is an exceedingly risky proposition that should never be attempted by beginning or novice traders!
Extended Watchlist:
DCTH, MNGA, SPWH, CTIC, CBAY, TOPS, THC,
DEWM (Cannabis News)