Getting short in BABA (Vertical Spread)
Updated
This is a directional play, BABA looks over extended and I think we will get a move back to the 20 EMA or even lower sometime between the next month. So I sold a Call vertical spread for $2.25 ea.
This is a directional play and is basically a 58% probability of making money. Our max loss is $275 per contract and max win $225. Will look to close it early.
The trade: (Vertical Spread)
-1 175 Call
+1 180 Call
58% probability
This is a directional play and is basically a 58% probability of making money. Our max loss is $275 per contract and max win $225. Will look to close it early.
The trade: (Vertical Spread)
-1 175 Call
+1 180 Call
58% probability
Trade closed manually
During this time there was a major hurricane hitting where I live, so I wasn't able to update this trade. It expired with a small loss.
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