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Shared by
btb925

 

CRON

Apr 15, 2019 10:52


Shares traded: 0
Options traded: 4
Closed Gross P&L: $-82.00

Tags:

PBIKTL

Overview
First tap into a key trend line support in 200 days. I was planning on longing this for a swing risking off the TL. The plan was to ease into June NTM calls and then purchase shares on the way up. I failed to recognize the illiquidity of the strike/expiration of the June 16C's and thus received an atrocious fill that immediately put me down $65 when the order was filled.

Good
Anytime you start a trade with the mindset, "let's wait and see" - the right move always is to take the L which I did on the next correction.

Bad
Trusted the "estimated price" displayed on ToS option screener when setting my order ... failed to recognize the nonexistence volume on this strike/exp ... bought above Ask.

Alternatives
Confirm that the volume is liquid enough so that ToS "estimated price" carries an ounce of accuracy ... fight for optimal price ... profits aren't made on the exits - they're made on the entries.


Plan Execution Grade: F


Execution detail:

Date/time Symbol Qty Price Position
2019-04-15 10:52:44 21 JUN 19 16 CALL 2 $2.320 2
2019-04-15 11:05:44 21 JUN 19 16 CALL -2 $1.910 0


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