11/23/2021 Bought more BABA at 143.6 last week (1/10 position size). Sold a put on BABA today.

Hi everyone!

I bought a little more BABA last week Thursday at 143.6 (market close after earnings). I increased my total position by 10%. I also sold a cash secured put today when BABA was trading at 136.2.

I sold the 12/17/2021,140 strike put for 9 dollars. My original plan was to have a limit order at 130, but I actually like selling the put now instead.

BABA weekly chart below. BABA dropped over 11% last Thursday after a bad earnings report. They still project growth to be 20-23%, which still makes the stock cheap. I suspect we won’t drop much below 130, but let’s see what happens.