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Entered a 1-week calendar C77.5 & C80 spread on BABA today/yesterday @ $0.17-$0.18-$0.19. Long August 21, short August 14. There is A LOT of time before earnings, but prices are very cheap! This is what luxmon reported during the previous cycle: May8/May15 85 put: Entered for 0.23 on 4/27, exit for 0.30 on 5/4 (26% profit after commissions) May8/May15 85 call: Entered for 0.22 on 4/28, exit for 0.31 on 5/4 (36% profit after commissions) So even with plenty of time ahead, entering around $0.18 seems like a great entry point.

It will be interesting to see how the weekly VIX options behave once they are implemented. I like the current VIX options for monthly call calendars and for the put calendars and/or verticals when the VIX is very low. However, for shorter duration VIX-based trades I have typically used VXX options which already have weeklies, bid/ask spreads pennies apart, and high trading volume (one of my favorite trades along these lines is when the VIX is up multiple days in a rows I like to buy near term VXX put debit spreads or diagonals to play for the VIX dropping back down).