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Call Spread on QIHU on 11/26/2013

Support Level on QIHUQihoo 360 Technology Co. Ltd. (QIHU) provides Internet and mobile security products in the People’s Republic of China.

Its core Internet security products include 360 Safe Guard, a solution for Internet security and system optimization; 360 Anti-Virus, an anti-virus application that uses multiple scan engines to protect users’ computers against various kinds of malware, as well as 360 Mobile Safe, a security program for the Google Android, Apple iOS, and Nokia Symbian smartphone operating systems.

The company’s platform products comprise 360 Safe Browser and 360 Speed Browser, which are based on dual-core technologies providing secure browsing and blocking malicious Websites, indentifying them among search results, scanning files downloaded through the browser for security threats, as well as 360 Mobile Browser for the iOS and Android operating systems. The 360 browsers also consist of 360 Personal Start-up Page, which serves as user’s start-up page aggregating preferred Web services and applications; 360 Search, a search engine; and 360 Mobile Assistant, which allows users to browse, search, and obtain various mobile applications for mobile devices.

Qihoo 360 Technology Co. Ltd. also provides online advertising services, including online marketing services and search referral services; and Internet value-added services comprising the operation of Web games developed by third-parties, remote technical support, and cloud-based services.

The company reported strong quarterly results yesterday. The report beat the estimates. Shares are now rebounding from a strong support level.

52-Week Trading Range: $22.82 - $96.74

Last Trade: $80.65

Trade

  • Buy 1 December $80.00 Call at $4.30
  • Sell 1 December $85.00 Call at $2.30
  • For a net debit of $2.00

Profit/Loss Analysis

  • Breakeven at $82.00
  • Maximum profit is $300.00 at strike of $85.00
  • Maximum loss is ($200.00) at strike of $80.00

Closing Summary

  • Sold 1 December $80.00 Call at $6.10
  • Bought 1 December $85.00 Call at $3.10

Position closed on 12/2/2013 at price of $3.00 with a 50.00% gain in 6 days.

Updates

12/2/2013 3:25:37 PM

We are taking profits on QIHU call spread!!

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