On Tuesday, November 29th, Market Rebellion Co-Founder Pete Najarian gave away a slam dunk of an options trade for Rebel’s Edge viewers: Alibaba $92 strike call options, expiring December 16th. Those calls came hot on the heels of two separate purchases the day before in the same ticker.
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Those Alibaba $92 strike calls were 14.6% out of the money, and those calls did cost an average of $1.18 per contract.
However, Alibaba has rallied hard over the past week, bringing these calls to nearly at the money levels with two weeks remaining in the trade. As a result, those options are now worth $4.8 at the time of writing — 4X the original price paid.
Here’s a clip from that episode of Rebel’s Edge:
Missed out on the play? Don’t kick yourself, just don’t miss out on the next one. Both Jon and Pete give a fresh piece of unusual options activity live on every episode of Rebel’s Edge, which streams at 1PM EST Monday-Thursday. Sign up today to get notified when Jon and Pete go live next!
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