DAL Trade on Mar 19, 2020 16:05 from tradelikelarry: Tradervue User Stock Trades.

Trade Planning:
- 30m Chart: Downtrend, Consolidation below recent lows, looking for price to reverse.
- TTM Squeeze: 30m
- Earnings Date: 4/14-

Reason For Entry:
- Playing 30m chart. Day trade, DAL looks to have found a support area, TTM squeeze developed on the 30m chart and momentum shifting positive. Small entry of 2 contracts and risking (1% of portfolio). Defined stopping area and holding this trade overnight. Will close the trade in the morning for a win or loss.
Reason For Exit:
- Price gapped up and closed the trade in 2 transactions for a small loss. The options never really moved with the stock price, which is odd since the delta was in the .40s.

Recap:
- The entry was good, given the TTM in a squeeze and gaining momentum, entry at the lower BB area. The next day, price gapped up (7%) and the options never moved with the stock price. I closed the position in 2 transactions for a small loss. Disappointed that this trade didn't close a winner since everything worked out as far as the chart moving in the direction that I figured it would.
Will need to be cautious with these 1 day to expiration options, this one did not work out and I think THETA took most of the profits. In the future, I should have gone further out in the options that had less Theta decay. Lesson learned.
Update: within a couple of hours, price moved up to 20% and the options price then moved $2 (which would have been a nice profit had I stayed in the trade).