Have you ever bought or sold anything on eBay (Ticker: EBAY)?
I have, just once — and that was so long ago.
It was a Maxfield Parrish print … I used to love those.
My girlfriends and I actually took a girls’ weekend to see his art show in Philadelphia. Very fun and that also seems so long ago. Damn …
Anyway, eBay has been around since 1995.
When I was in interior design school, they told us if we didn’t know what something was, like a piece of modern furniture, look it up on eBay, it will always be on there.
They have 185 million active buyers worldwide and 19 million sellers with 1.7 billion listings.
Of course it’s on there!
People sell all kinds of things on eBay and make money doing it.
Now eBay is introducing a new, quick and easy app to upload trading cards to sell on the site.
They are seeing huge demand in the trading card space, with sales up 142% in 2020. That’s 4 million more cards than in 2019.
Long ago my sister gave Grant this huge binder of baseball cards … it may be time to dig them out and start doing some research.
Oh, yeah, Pokemon cards are also very popular and valuable. Grant still has his binder of those, too.
These things could all come in handy paying for that college tuition!
Or we can just make some money on my trade idea in eBay. More on that in just a minute …
Did you know eBay (Ticker: EBAY) got its name from the Echo Bay Technology Company created by Pierre Omidyar.
According to interestinganswers.com:
The first thing sold on eBay was a broken laser pointer! Ha! Who bought that?
Magic potions, prayers and souls are banned on eBay.
The most expensive item ever sold on eBay was a 405-foot yacht for $168 million.
There is also a video of the ten weirdest things sold on eBay. I’ll let you look that one up. It’s worth it!
Now for Trading
Looking at the EBAY stock chart, I see a hanging man candlestick on Monday with an opening lower on Tuesday.
This could be signaling a pull back from the recent uptrend that started on March 8.
Remember, a hanging man candlestick has a small real body and a longer lower shadow and looks like a man’s legs dangling.
It can be found at the top of an uptrend.
Looking at the options for EBAY:
I like the Apr16, with eleven days until expiration, 62.50 puts which are right at the money.
They are trading just over a dollar. I would pay up to $1.12 for these and I would just buy them outright, they are cheap and there really isn’t any other put worth selling against it.
I would cut my loss on these quickly, as they will begin to decay pretty rapidly if the stock does not trade lower. So I would sell and take my loss at $.75.
I would like to take profits on these at $1.75 and higher.
Reviewing My Last Trade Ideas
My last two trade ideas were put spreads in Home Depot (Ticker: HD) and Facebook (Ticker: FB).
WOW! Was I ever wrong!
I was looking for both stocks to trade lower but HD traded up more than $7 and FB traded up over $10!
BUT … since I did not get the confirmation with lower openings, I never put the trades on — so no money lost!
Now, where are all those trading cards … Grant!!
Thanks for Reading … See You Next Tuesday!