Earlier today I’ve decided to completely close out my call-positions as I’ve holding calls since 11/09/2016 @ 27.44. After the entry on 11/09/2016, holding for few months were little tricky as it came down to retest 27.30ish as new support–I thought as long as we hold 26.90-27.30 we have high probability of bouncing back up. Once it cleared 29.50ish on 12/08/2016, I think at that moment I knew EBAY was ready to thrive; I even held my full call-positions through the ER on 1/25/2017 as I’ve tweeted out–obviously no one knows the ER outcome, but I was just pretty confident with overall trend perspective. On the ER day, investors react in a positive way and it worked out for my favor, but we did see about a week and half of consolidation above the “ER Gap” area before it launched higher again. From that point on, it’s just enjoying the gain and letting it be.
My original target was about 36-37 on EBAY, but with overbought sentiment we are dealing with in the overall market and because I am still holding many positions on the equities, I felt the need to start managing risk and so I trimmed some of my positions including BSX (which I’ve completely closed out BSX calls today as well). If it continues higher I have no problem letting it go as I am very satisfied with the gain since 27.44, but in the event that we pullback to about 30-31ish I will be buying that dip for the next target of 37ish.