Rationale:
-TSLA has had several news headlines over the last week and has been consistently selling off for the last 2 weeks or so
-this morning MS released reporting with bull/bear cases and had price target of $10 on bear case
-Baird cut price target but reiterated outperform rating
-market sentiment was positive (futures opening green, +1200 TICK open, +1500 ADD open)
-no notable sector strength
Recap:
-entry (@ 9:45a) was a bit too early based on the chart
-will have to watch screen recording, but didn't feel like there was aggressive buying on the tape; but I did notice a few very large sellers
-put on too much risk (10.4K position, which is double max size of 25%) - may have to wait til over PDT hump before I can scale in past 25-35% or determine what variables need to occur before I do aggressively buy
-felt nervous on this one as I havent traded for 2 days and wasn't really prepared
-essentially shaken out of this trade as it broke VWAP, rejected it on the retest, then price reclaimed and went on to new highs
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2019-05-21 09:45:35 | JUN21 19 205 CALL | buy | $13.000 | long |
2019-05-21 09:50:36 | JUN21 19 205 CALL | sell | $12.200 | long |
2019-05-21 10:11:12 | JUN21 19 205 CALL | sell | $11.770 | 0 |
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