I opened $BABA 20240809 68.0 PUT$  ,BABA: collect 1.25% from this cash secured out on BABA at strike $68 which is about 7% lower than current market price. The expiry was set on 9th Aug which is 32 days away. BABA continue to show signs of weakness with no real catalyst. The turnaround story is yet to materialise with loads of other issues. Valuation is low for this reason and taking a contrarian approach. If it drops into the money, will decide if want to average down my holding cost or just roll it further out or close with losses are all possible outcome.