This was an opportunity I see for a swing trade, late day I started to notice that there was a strong support around $81/$80.80. I went into the trade with the thesis that we could possibly see it run the next day. Did not expect it to get up but if it was to break below $80.80 convincingly then I would put the position. Fast forward to the morning after the play is taken, they started gagging pretty aggressively. There was no real news other than the fact they were releasing A new dividend. This really didn’t come into consideration but right out of the open I knew I wanted to sell this as quickly as possible. I didn’t expect this to stay up around this area, I knew it could turn down and possibly reverse later in the day but I am Very happy with where I took profits. Something else to cut my eye with a level two out of the open look very heavy from the start.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2020-01-15 12:22:23 | C | buy | $80.955 | long |
2020-01-16 09:31:02 | C | sell | $81.922 | 0 |
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