the trade i was looking at for aliba ba, alibaba. looking to catch the earnings report next week. want to sell and buy a longer dated putt in march. hoping to get in for cheaper. the trade was a february/march, 95 put spread. when the stock was 104, it costs $1. that was my max risk. i sold one at $1 and bought one for $2. i want to have the stock move back towards 95 in february expiration. then, i own that march put for that lockup. >> i think this makes a lot of sense. for a couple of reasons. when you have a stock, a recent ipo, typically, what happens, a lot of volatility that starts to many could out of the stock. options premiums decline over time. the best to own it is to sell near dated options against it. you wouldn't want to short this stock, even though there is a huge overhang of supply which is going to pressure it. on a fundamental basis, the stock is not immensely expensive when it is growing at 40%, 50%. for a growth stock, not off the charts expensive. finance those longer term puts. >> speaking of insurance, no the a lot of trading history to interpret. no one i