Short WMJA @ $1.65 + Long CHLIN @ $3.20

Short 5 contracts of WMJA to close out the position and had a realized gain of $160, a 19% gain.

Long 5 contracts of CHLIN (CHL OCT $70 call) @ $3.20. What are the reasons behind this speculation?

Many years back, Asia was so behind in deploying/adapting wireless device, network and technologies and when the Asian country finally got ready to adapt, they had no baggage with legacy systems and was deploying what was the latest and greatest at the time.  So, whenever I visit Taiwan or Japan, I am always amazed by how advanced their wireless technology is, they had 3G phone years before US and most people has more than one cell phones.  I think China will be no different, China is so behind in communication network even today, most places still don’t even have land line phone available.  It only makes sense that with all kind of wireless technologies available today to just skip the land line and go straight to wireless.  And I think China Mobile Limited (CHL) is well positioned for this ride.