Anyone else fked by BABA?
For real, first time I’ve seen a stock go through so many bad news reports and bad timing. Week 0-4
1) stationed at 300-320
1) ipo suspended
2) bad timing for suspension as it’s the same time all stocks TECH and Chinese stocks (jd/tencent, etc) all rose bigly
3) ends the week with earnings miss so we get literally 0 pump before 11/11 starts
1) day one – and of course techs get fucked cause vaccine hope, baba hasn’t even recovered anything yet (it hit 306 in hkg market that same day)
2) day two – China drafts new anti trust guidelines
What On earth is this, ive went from long term holding baba shares (400) to selling all to buy OTM calls during the first dip. Then having to average down due to IV crush after earnings THEN vaccine news THEN antitrust guidelines by China.
None of these are even events correlated to each other to soften the blow, each one coming from no where complete left field…
Luckily I was able to make some money on puts on ccl/m/jpm to offset the losses but if I had literally one day of late news release Id be able to cop a model s and downpayment on a rental property god damn it. There was 3 trading days between the crash where baba went back to 305 in hk market)
All I’m asking is +10 IV & 285 tmrw is that too much..?
450 contracts 12/18 355c
Submitted November 10, 2020 at 11:54PM by Throwaway96pp
via reddit https://ift.tt/2IghGrz