It happened… just as we hoped it would.
As the BABA IPO hit, flew to $99, and backed off $9 out of the gate, those that bought into the Yahoo benefactor trade watched as Yahoo fell apart fast.
Last checked, shares of YHOO are down $2.
If you bought into the YHOO November 2014 42 puts recommended just yesterday between $2.70 and $2.90, you’re now looking at gains ranging from 36% to 41%.
That’s in a day.
We’re recommending that you sell to close just half of the position today to secure those gains. Hold the second half with a -10% stop loss.
Hold all other positions.