Market vol product
-Fed announced 50 basis points cut last week / Trump pitches 0% payroll tax
-Coronavirus fears continue, case count outside of china increasing faster
-WHO declares COVID-19 as global pandemic
-March 12 2020: Fed says they will do more repo operations (pump money into markets)
-March 13 2020: US declares COVID-19 an emergency
-Market consolidation in the 240's and 230's
-Closed weak today, more likely to gap down on Monday
-SPY intraday pattern: Fade
-SPY Levels: 228, 230, 235, 237, 240, 244
First test short of SPY 238 (long TVIX, short SPY)
Was not supposed to take this trade because the SPY level wasn't A+. I wanted SPY to tank lower before coming to retest this level but I got FOMO and broke my rules and didn't take profits when I was ITM. My emotions were wack during this trade...
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2020-03-20 13:28:00 | TVIX | buy | $550.000 | long |
2020-03-20 13:30:07 | TVIX | sell | $542.920 | 0 |
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