HLF Trade on Jul 12, 2019 12:29 from AofP2017: Tradervue User Stock Trades.

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Shared by
AofP2017

 

Shares traded: 0
Options traded: 40
Closed Gross P&L: $349.00

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Diagonal Put Followed Rules Low Base Maverick

Daily Setup:
Low base break down occurred a few day prior to entry when price broke the $42 level. Price has tested 41.25 & 40.80 several times and buyers have been noted to step in at those levels.
Game Plan
The plan is to have a short term trade that is slowly drifting lower. IV is currently high on HLF. I entered a diagonal put spread and set it up to be profitable if it stayed below 42.15. Therefore it had some wiggle room to the upside if it was to bounce a little bit. The plan is to close the position at the end of the week due to the expiration of the long put.
Stop:
$43 level - the chart shows strong resistance at that level.
Target:
$40 - but mainly, stay where it is or drift lower.
Reason to exit:
Closed the entire position due Short strike being ITM & the long put expiring next week.
Mistakes &/Or Concerns
None

image


Execution detail:

Date/time Symbol Qty Price Position
2019-07-12 12:29:10 JUL19 19 41.5 PUT -10 $0.8590 -10
2019-07-12 12:29:10 JUL26 19 43 PUT 10 $2.130 10
2019-07-19 15:10:57 JUL19 19 41.5 PUT 10 $0.4220 0
2019-07-19 15:10:57 JUL26 19 43 PUT -10 $2.042 0


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