Pete Najarian’s Alibaba Extraordinary Option Activity Continues
On Tuesday, November 29, Market Rebellion co-founder Pete Najarian offered a bargain on options trading to Rebel’s Edge viewers: Alibaba’s $92 strike price call optionwhich expires on December 16. Those calls became hot after two separate purchases the previous day in the same code.
Alibaba’s $92 strike calls to be 14.6% out of money and those calls do average cost is $1.18 per contract.
However, Alibaba has rebounded strongly in the past week, bringing these calls to almost by money level with two weeks left in trade. As a result, those options are now worth $4.8 at the time of writing — 4 times the original price paid.
Here’s a segment from Rebel’s Edge in case you missed it!
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