YETI

Mar 9, 2020 11:00


Shares traded: 0
Options traded: 12
Closed Gross P&L: $-168.00

Tags:

TTM Weekly Symmetry Play Short Squeeze PCS

Trade Planning:
- Daily Chart: Uptrend, Pullback below recent ATH.
- TTM Squeeze: Weekly
- Earnings Date: 5/14-

Reason For Entry:
- Playing the Weekly chart. YETI has been in an uptrend and made a big pullback with the market to symmetry area. This stock has a high short float at 22% and in a TTM squeeze on the weekly chart. This is a PCS play so I am betting that YETI will close above $27.5 at expiration on 200417. Risking 1.5% of my portfolio with this trade.

Reason For Exit:
- Closed the trade due to TTM firing short and price closing the week breaking the symmetry area.

Recap:
- Nice entry right on the symmetry zone. Price faded throughout the week and closed the week with the TTM firing short and price raking symmetry area. Followed my rules and took the loss for a little less than 50% (0.75% of portfolio).


Execution detail:

Date/time Symbol Qty Price Position
2020-03-09 11:00:40 17 APR 20 27.5 PUT -3 $4.110 -3
2020-03-09 11:00:40 17 APR 20 25 PUT 3 $2.770 3
2020-03-13 16:38:10 17 APR 20 27.5 PUT 1 $6.050 -2
2020-03-13 16:38:10 17 APR 20 25 PUT -1 $4.150 2
2020-03-13 16:38:10 17 APR 20 27.5 PUT 2 $6.050 0
2020-03-13 16:38:10 17 APR 20 25 PUT -2 $4.150 0


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