Chinese tech stocks are finally catching a bid after months of being hammered to the core by a tidal wave of value-destroying regulations. Xi's increasingly autocratic communist regime has been reigning in its tech giants since Jack Ma's public criticism regarding "The Party's" financial structure last fall.

US investor's favorite Asian innovators like Alibaba (BABA Quick QuoteBABA - Free Report) , JD.com (JD Quick QuoteJD - Free Report) , Tencent (TCEHY Quick QuoteTCEHY - Free Report) , and Baidu (BIDU Quick QuoteBIDU - Free Report) had lost 45%+ from their 52-week highs to close out last week's volatile trade. This bucket of foreign equities is finally finding footing this week after hitting oversold RSIs levels and reaching fire-sale valuation multiples.

BABA is finding itself at the top of this new wave of retail trader's idea generation cycle on Reddit's r/wallstreetbets (aka WSB). BABA has been the most talked-about stock of this market-moving trading forum, making up 8% of the message board's diverse comment volume in the last 24 hours.

You can see these young retail speculators pile into short-term call options, with 100,000s of Friday expiring calls changing hands in today's action. BABA's colossal $420+ billion market cap will hinder this group of traders' market-moving ability, but it's still a good sentiment indicator.