Magnet Trade in EBAY

[Steven Place]

Manget trade, looking for a move to 57.

Buy to open EBAY Jan 55 calls at 1.62 or lower

Hard stop at 53.89

Sell half at 56.85

[Steven Place]

We hit 56.90, that’s good enough for a scale out.

Sell to close HALF SIZE Jan 55 calls at 2.50

[Steven Place]

Great move in EBAY, but we have an issue because the stock is extended and we have Jan calls. If the stock pulls back (which is still bullish) we lose out from delta losses as well as premium getting sucked out.

Sell to close second half EBAY calls at 2.90

If EBAY reverts to the mean, I’ll look to rebuy some calls, this time in February.

[Author]

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