By Dan Darrow
September 06, 2022
Intraday Update: BABA
Indices are starting the holiday-shortened week with a relatively flat open, though Chinese stocks are beginning the session weak. BABA is off ~3.75% during the first few minutes of trading, and the stock has now erased nearly all of its bounce from late August. The Oct21 $105 - $115 call spread is at the net debit stop loss and needs to be closed this morning. A few things needed to line up for the more speculative trade to work, and they haven't, unfortunately. We can revisit a new strategy on BABA if it resets above 100 in the near future.
Trader Author Portfolio Holdings
**As of the date and time of publication