After watching the latest move in natural gas names, United States Natural Gas (UNG) is now looking a bit over-extended to the upside. It needs to reverse from overbought RSI and MACD, as well. I may look to reissue a new trade on UNG on any near-term pullbacks.
Consider selling to close the UNG stock and the January 21 calls today to secure gains.
Also, after more upside in the BABA name, the BABA July 135 calls are now showing a gain of 165%. Hold. Even the newly issued trade on the BABA July 145 calls are showing a gain. Since yesterday, this call has already run from $4.50 to $6.75 (50%). Hold.
I’m looking to issue even more BABA trades moving forward. I believe BABA could easily be a $200 stock next year, so why not profit from it all along the way?
Ian L. Cooper
Inside Value Trader