News coming out this morning of a billionaire who sold some of his shares. That led to a stop-run as too many were looking for the breakout of 85 too early.
So far the breakdown has failed. This offers a good low-risk opportunity to play for the move back to 85.
Buy to Open BABA Feb 85 Calls @3.50
Sell half at 85
Stop out at 80.23 (hard stop).
Ideally we can scale out some at 85 and have enough patience to see the actual breakout come through.