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Joe Tigay of Equity Armor Investments spoke on Bloomberg Markets about Alibaba Group Holding Ltd BABA.
He explained that China is in the middle of the currency easing cycle, which could be a stimulus for the Chinese economy. He thinks the best way to make a bullish trade on China is with Alibaba shares. Tigay wants to buy the August 19 expiration, 85/90 call spread for $1.60.
The break even for the trade is at $86.60 or 2.58 percent higher from the current stock price. The maximal profit the trade can make is $3.40.
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