Rationale / reasons for entry:
-strong opening drive on strong volume
-catalyst: morgan stanley raises price target to $195
-found support at HVN on prior day
-stock continued to make higher lows until approx 1:20p (when it broke out of consolidation box to the downside, then broke VWAP)
Review:
-reasons to exit should have been on a break of consolidation zone to the downside
-market started to drift lower at approx 12:15p, this could have been a sign to continue scaling out while FB was in consolidation box
-on days with poor internals and risk-off/slightly on sentiment, go lighter on position size (which I did), but also look to take bulk of profits, much much earlier (ie., before lunch time), unless there is very strong catalyst
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2019-04-09 09:55:47 | APR18 19 175 CALL | buy | $4.250 | long |
2019-04-09 10:11:20 | APR18 19 175 CALL | sell | $4.970 | long |
2019-04-09 13:30:20 | APR18 19 175 CALL | sell | $4.600 | long |
2019-04-09 13:31:36 | APR18 19 175 CALL | sell | $4.550 | long |
2019-04-09 13:33:21 | APR18 19 175 CALL | sell | $4.370 | long |
2019-04-09 13:33:37 | APR18 19 175 CALL | sell | $4.340 | 0 |
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