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Finally pulling back into its 20 day moving average.
Here’s the trade:
Sell to open BABA JAN 100/97.50 put spread for .80 HALF SIZE
ADD to the trade at 1.40
Out at .30
Going to close early here for less profits. The stock has been in a decent consolidation which is great for these bull put spreads, but it really isn’t seeing any followthrough.
This is one of those charts that tell me the longer the stock goes without seeing any decent upside movement, the higher the odds of a retest. I’d rather take profits and maybe consider reentry if we hit 100.
Buy to close BABA Jan 100/97.50 put spread for 0.45.
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