CGC Trade on May 2, 2019 09:38 from kerobo0000: Tradervue User Stock Trades.

Rationale:
-CGC released news that it would be acquiring German cannabis company
-expected IV to slightly rise on the news, price to slightly trade down

Recap:
-CGC opened slightly down, traded up above 50.4 support, but couldn't hold the level
-stock came crashing down and blew through 8dma and HVN at 49
-does not look really bullish, but want to keep trade open given I only have 1 DT left
-price has made a LL and LH; if price doesn't reverse 5/3 might have to book the loss, even if w/in risk

IVR=46%
IV/HV=
Key corporate events (earnings, dividend, investor day, etc.)= NA
How much risk should/did I take? $366 of total risk, appropriate

Trade Planning
-major support: $49
-add point: NA
-stop loss: $150
-take profit price / risk-reduction plan: 50% of max profit

2019-05-07 15:14:12
-note: based on my right up, monthly options would've been better suited for this trade (IV crush due to M&A announcement)
-closed today for a loss
-had two opportunities to take profit but didn't since options didn't hit target
-note that I sold options ATM (as opposed to 1SD away)
-given that there are 3 DTE, market has to make strong reversal for stock to get back to short strike, possible, but don't want to risk more than I've lost as PnL will continue to decline as long as price stayed below short strike