Daily Report Card:
-morning prep: 10/10 (got thru all my prep with 2-3mins to spare, consciously took some deep breaths as well)
-distractions/distracted: 0/10
Rationale:
-gapping up +2.6%; outside normal range of gap ups
-no news catalyst, but today is Day 4 after earnings announcement
How much risk should/did I take? 1,128 (8% of NLV); appropriate, but could've increased position size (risked $1 in the equity, which equates to 20c-30c on 6 lots, which is equal to just over 1R [1R=$175 based on NLV]); had room to double position and stay within risk limits
Recap:
How could I have traded this better?
-better trade management; need to take first of 30% or $1 target then take remainder off at potential target (with stop just under B.E.)
-this trade could've been a nice winner had I held to target (~360) but if I held past target options ended up doubling (not a realistic expectation for today since I was trading against the market trend)
Gain/loss relative to expected gain/loss:
-gain smaller than expectation
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2019-08-13 10:00:12 | AUG16 19 135 PUT | buy | $1.880 | long |
2019-08-13 10:45:03 | AUG16 19 135 PUT | sell | $2.110 | long |
2019-08-13 10:48:24 | AUG16 19 135 PUT | sell | $2.300 | long |
2019-08-13 10:51:31 | AUG16 19 135 PUT | sell | $2.180 | long |
2019-08-13 10:55:34 | AUG16 19 135 PUT | sell | $1.930 | 0 |
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