Alibaba stock popped 4 percent Monday as China's Singles' Day promised a blockbuster boost to its bottom line.
RiskReversal's Dan Nathan noted that Alibaba stock had appreciated about 40 percent in the past few weeks.
"I think this is actually a well-telegraphed thing," he said. "I think you'll probably see this stock below $115 over the next couple of days."
Read MoreAlibaba stock headed to $150: Pro