LONG POSITION PAYING OFF SO FAR. I SOLD OVER HALF OF MY CALLS FOR A GAIN. I'M HOLDING A FEW MORE TO SEE WHERE THEY CAN GO.
I posted this yesterday when I started the long position.
landed my long position on Alibaba on the lows of yesterday. it seems like the perfect entrance because the price started going up as soon as I bought it in a big way. But then overnight as I was watching the Hong Kong markets Alibaba was doing terrible. It was a huge sell-off. I didn't sleep well.
$BABA-W (09988.HK)$
$BABA-W (09988.HK)$
Luckily today Alibaba was one of the outperformers in the US the market today. A lot of the market went red today. with the generally bad performing markets today and the big sell-off and Alibaba in Hong Kong the previous night I had a little uncertainty in my mind. So I quickly took some profit off the table to minimize some of the risk. But I'm still holding a few of these way out of the money calls to see what happens. Wish me luck people.
Technically speaking BABA is still at the trending support level that it's price was near when I entered into my position. The price has barely moved up. Why did I take profit off the table? Greed and fear is the answer. I got scared. If alibaba's share price starts getting momentum to the upside I may very well add on to my long position possibly.
$SPDR S&P 500 ETF (SPY.US)$ $SPDR Dow Jones Industrial Average Trust (DIA.US)$ $Invesco QQQ Trust (QQQ.US)$ $CSI 300 Index (000300.SH)$ $Hang Seng Index (800000.HK)$ $JD.com (JD.US)$ $JD-SW (09618.HK)$ $TENCENT (00700.HK)$ $NIO Inc (NIO.US)$ $NIO Inc. USD OV (NIO.SG)$ $NIO-SW (09866.HK)$ $XPeng (XPEV.US)$ $XPENG-W (09868.HK)$ $BYD COMPANY (01211.HK)$ $Baidu (BIDU.US)$ $BIDU-SW (09888.HK)$
$SPDR S&P 500 ETF (SPY.US)$ $SPDR Dow Jones Industrial Average Trust (DIA.US)$ $Invesco QQQ Trust (QQQ.US)$ $CSI 300 Index (000300.SH)$ $Hang Seng Index (800000.HK)$ $JD.com (JD.US)$ $JD-SW (09618.HK)$ $TENCENT (00700.HK)$ $NIO Inc (NIO.US)$ $NIO Inc. USD OV (NIO.SG)$ $NIO-SW (09866.HK)$ $XPeng (XPEV.US)$ $XPENG-W (09868.HK)$ $BYD COMPANY (01211.HK)$ $Baidu (BIDU.US)$ $BIDU-SW (09888.HK)$
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BigBadBear : How do you sell half on moo moo? You bought more than 1 unit of call?
SpyderCall OP BigBadBear : yes. more than one contract. multiple call contracts
102640653 SpyderCall OP : How u see Amtd going forward. The other counter hkd went up the roof . Yesterday’s went to 14.40 in premarket n after that was a downward drift with upward bias. How u see it. Still have upside from current $8 premarket close. . I’ve bought Alibaba call warrants in Singapore
102640653 SpyderCall OP : Would like u to check on amtd . How u feel . Target
BigBadBear : Nice
SpyderCall OP 102640653 : I have a long position and Alibaba also. I'm hoping earnings are good. the price is so low so I think that even if their earnings are bad the price should not drop too much more. when I got myself enough time on my long position just in case the price does go down after earnings and really believe it will come back up
SpyderCall OP 102640653 : I will check on AMTD now
SpyderCall OP 102640653 : I should say for the record that I did not think AMTD would get this high yesterday. but it got way higher than my expectations. so that could happen again. I feel like I'm a little biased on this thing because I don't like low price penny stocks. but this thing could skyrocket like HKD but I just don't feel like it should so I'm biased
warrior-sailormoon : IV is high , does it affect profit return?
SpyderCall OP warrior-sailormoon : implied volatility does matter all of the time. when implied volatility increases or decreases it affects options prices differently. it is dependent on if you are buying or selling. it is also dependent on if it is a put or a call. most importantly it is dependent on the direction of the price action.
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