BABA Long Swing Idea

BABA has returned to the demand zone within a large range measured between $73.28 and $126.27. It is currently completing a price consolidation within a larger falling wedge at area as well. This is great area to start averaging in a longterm position in addition to the trade idea presented below. Ideally I want to enter trade when stock price drops between $74 and $77. If not, I may wait for an official uptrend to begin, creating a higher high and break & retest of the $86-$88 zone.

Trade Idea: Options (Call Contracts)

***$100 Call Strike - Expiration 12/16/22***
Premium = 2.68-2.77 (Discounted price of the stock per share offered within a 100 share contract) ($268 to $277 per contract)
Volume = 862 (Number of contracts currently traded)
Open Interest = 20k+ (Number of Contracts currently held)
Theta = -$3.79 (Dollar amount of premium loss per day)
Delta = +$24 (Dollar amount of premium gained or loss per dollar change of the underlying stock)

***105 Call Strike - Expiration 12/16/22***
Premium = 1.94-2.02 (Discounted price of the stock per share offered within a 100 share contract) ($194 to $202 per contract)
Volume = 101 (Number of contracts currently traded)
Open Interest = 12k+ (Number of Contracts currently held)
Theta = -$3.30 (Dollar amount of premium loss per day)
Delta = +$19 (Dollar amount of premium gained or loss per dollar change of the underlying stock)

***110 Call Strike - Expiration 12/16/22***
Premium = 1.43-1.50 (Discounted price of the stock per share offered within a 100 share contract) ($143 to $150 per contract)
Volume = 2.2k (Number of contracts currently traded)
Open Interest = 13k+ (Number of Contracts currently held)
Theta = -$2.83 (Dollar amount of premium loss per day)
Delta = +$15 (Dollar amount of premium gained or loss per dollar change of the underlying stock)

Stop Loss = Stock Price Close below 73.29 (or Price hit $70)