Rationale:
-entered trade looking to catch the falling knife
-price had been tumbling and was approaching multi-year support at 66.80
-entered ratio spread with no risk to the upside if price reversed immediately
Recap:
Trade Planning
-structure: ratio spread
-major support: 66.80 / 62 (bottom side break even)
-add point: NA (may enter puts if price falls below 66.35 and market environment still negative)
-stop loss: price breaking and holding below $62
-take profit price / risk-reduction plan: run to expiration if trade still valid
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2019-05-22 15:17:05 | JUN21 19 65 PUT | sell | $1.460 | short |
2019-05-22 15:17:05 | JUN21 19 67.5 PUT | buy | $2.320 | long |
2019-06-21 16:20:00 | JUN21 19 65 PUT | buy | $0.0000 | 0 |
2019-06-21 16:20:00 | JUN21 19 67.5 PUT | sell | $0.0000 | 0 |
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