Lots to cover here.

I’m back into BABA.  I bought calls on this in May, didn’t call the bottom but close enough.  I killed it in this trade with over a double in less than 2 months.  I edged out on the way up exiting over 3 trades.  I think I might have cost based down once as well.  So I’m trying it again.

open 8 contracts of BABA Sep 18 ’15 $90 Call – price $2.07

The fundamentals on this are very strong, basically every analyst is bullish on this with targets for most at $105 or higher.  Technical’s look OK with hard support at $80.  I’ll cost base down on any pull back up to a $5k position and then just roll them out to December if we get into late July with no rally.

Still trying to enter TWTR, I’ve be putting orders in at the bottom of the spread but they aren’t filling.  I’ll keep trying and will likely just pay up next week and then I’ll wait for the new CEO or acquisition rumors to heat up and this will pop.  I’ll have to keep an eye on the next earnings call which is around end of July.

Also trying to enter NMBL again.  I’ve lost twice on this trade and I just don’t want to give up.  I work in this industry and anecdotal sales seem strong, customers like them, and they are always a possible target to be bought.  I missed the recent rally and refuse to overpay on the trade so it may never fill.  But I’m looking at the Nov. $35 calls.  If it continues its pull back I’ll edge in.

I should mention I’m in VMEM Dec $2.50 calls, bought them before I started the blog.  They are dirt cheap right now.  Basically priced for bankruptcy (well not really, but its ugly).  I used to work at Violin, great technology, crappy mngmt.  Its a tough space but they seem to have a good product and the bar is set so low I don’t really see how this stock could go any lower.  But I think I said that at $3.00 as well, opps.  I have a decent position on this at .70cents and you can probably get them for .60 cents right now.  Earnings in early September will be key, could bounce back up to $4.00 easy.  That will be a 300% return on the options.

Last note on a lesson learned and it applies to both Vmem and NMBL.  I have a small position in MLHR that I got beginning of April.  I own the Aug, 21 $30 calls.  I paid $1.32, stock was at $28.  Stock moved over $30 on good earnings but I can’t find a buyer for the options at almost any time premium and there are over 45 days to expiry.  Very frustrating since this should have been an easy profit.  The lesson is that options on low volume stocks is tough, period.  I’ll keep trying to exit but what should have been a double is turning out to be a break even…