Selling both our BABA & PANW Call positions.
There are reports that BABA executives are being summoned by Chinese officials – a major concern given how heavy-handed the Chinese government can be with large corporations.
Our PANW position is set to expire tomorrow. While I still like this company, the weak overall market makes me concerned about how long it could take for PANW to once again start trading higher.
By closing these positions, we’re managing our risk and freeing up capital that can be used for better opportunities. And we’re also adjusting the overall balance of our speculative model to be less bullish.