Good call. Trading at $141.35 after hours. Only has to go up a measly 50% and she's in the money.
See Seeking Alpha's piece on this today:
"U.S.-traded Chinese tech stocks are seeing fresh selling pressure (CQQQ -2.9%) after Beijing announced it's halting major stock purchases to prop up local markets. Authorities also arrested nearly 200 people for actions deemed to have a destabilizing effect on markets. Decliners include giants Alibaba (BABA -3.9%) and Baidu (BIDU -3.1%)."
How silly of us to trust a company that isn't ransparent. They work over a different set of rules in foreign countries and we are so silly to trust.
Sentiment: Strong Sell
"According to the report, iQIYI Video HD currently ranks as the 6th most downloaded app worldwide and 9th by revenue."
Sentiment: Strong Buy
Is that so Butthead?...
Well, whatever you'd like to believe...I made a handsome $50 bucks a share on 1000 shares.
and you are a fool. there were no buys at $100. best buy you could have gotten was $130. that was a market sell print that the makers gladly took. so how many shares did you buy in your virtual portfolio?
After the Cramster said do not buy China stocks on Monday. Sure Cramster..Sure!
We are all laughing all the way to the bank.
Baidu low on 8/24/15 $100.
Man i love flatline fridays you can pick just about any option expiring today and if you sell it by 1:30pm it is almost a guarantee it will be worthless. ever since they started weeklies and $0.50 intervals. every friday without fail i make money 999 out of 1,000 times selling any option. i sold the BIDU $155 calls at $1 this morning and it has steadily gone down all day. will be worthless by days end
It would be too costly to 'buy' BABA and the size of the combination would make this less appealing as an investment. Simply too big. They do compete, but yet they are quite different. BIDU could use their payment service and BABA could benefit with much better search. I like BIDU better. Longer term, I think BIDU is more innovative and in markets such as video, travel, healthcare, finance that seem to have been long term possibilites - although BABA is strong in Video, Travel and Finance as well. BUT, BIDU has fewer shares and seems like there growth can be better managed. It is hard to say.