Daily Report Card: C
-morning prep: C
-market prep: F
-stock prep: C
-level of focus: A
Rationale:
-gapping down 1.21% on the open; no news catalyst
-did not have accurate view of sentiment but price action was weak (& sort of slow moving) on the open
-was short bias after seeing market make down move right on the open
How much risk should/did I take? 1,550; 11% of NLV (appropriate)
Recap:
-saw price break below VWAP and then consolidate below VWAP & the open, took entry risking a break above consolidation area
What did I do well?
-stay within risk limits
-find a very good entry point instead of trying to be first in or predict where price would go
-take profits into down moves and as option price neared expected target (30% gain) (note 2.02 take profit order never executed)
How could I have traded this better?
-re-enter after price retraced to VWAP/open (market unable to trade higher after breaking above VWAP, TICK showing some exhaustion around this time)
-do better premarket preparation
-have profit targets before entering trade
What did the tape look like during the most important moments intraday?
-did not record screen (bad pre-market prep)
Gain/loss relative to expected gain/loss:
-gain smaller than expected
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2019-09-18 09:48:29 | SEP20 19 290 PUT | buy | $1.550 | long |
2019-09-18 09:53:49 | SEP20 19 290 PUT | sell | $1.810 | long |
2019-09-18 09:54:09 | SEP20 19 290 PUT | sell | $1.840 | long |
2019-09-18 09:58:04 | SEP20 19 290 PUT | sell | $1.920 | long |
2019-09-18 09:59:20 | SEP20 19 290 PUT | sell | $1.910 | long |
2019-09-18 10:00:25 | SEP20 19 290 PUT | sell | $1.800 | 0 |
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