Shared by



Aug 9, 2019 14:07

Shares traded: 0
Options traded: 24
Closed Gross P&L: $-480.00
Gross Return: -1.07R


Lesson Learned Long Call Maverick Prints Stopped out

Daily Setup:
With the recent china trade wars, EEM has sold off from 43 down to 38.85 in just a few days. The past three days the price gapped down and closed at it's high on above average volume, then gaped up the next day. A 6.3 mil print @ 39.74 came in and we closed above it. Which leads me to believe this is a higher low.
Intraday Setup
Intraday on the 5min chart you can see that the print level held support after hours yesterday and also held support three times today, which is another reason I believe it was buying. I entered the trade after a surge higher and a pull back to support and waited for for confirmation.
6.3 mil @ 39.74
40.25 & 40.50
Reason to exit:
Stopped out - market gapped down past my stoploss.
Mistakes &/Or Concerns
I entered the trade while price was below the 8EMA and I entered the trade the day of the prints.
Lesson learned
**Lessons learned was that I need to pay attention to when prints come out. If I wish to enter early and not get "splashed - out" Then I should do enter a strangle and add to the confirmed direction. **

Execution detail:

Date/time Symbol Qty Price Position
2019-08-09 14:07:11 AUG23 19 39.5 CALL 12 $0.8900 12
2019-08-12 09:43:02 AUG23 19 39.5 CALL -12 $0.4900 0

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