ROKU had a negative initial reaction to ER and I thought this was a bearish gap and go because the stock has been bought up a lot prior the ER and the massive gap down dictated panic and disappointment from buyers prior to the ER.
I shorted the opening a bit too early as the first sign of weakness on the opening led me to dive in fomo. I managed to maintain composure and manage my way out the position and come out with the win.
In hindsight, the stock did fail at the end of the day, this turn out to be a bearish retest gap more than a bearish gap and go at the open though.
Shares Traded: 2400
PNL: 266
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2020-05-08 09:31:06 | ROKU | sell | $125.770 | short |
2020-05-08 09:31:25 | ROKU | buy | $124.380 | short |
2020-05-08 09:32:28 | ROKU | buy | $127.690 | 0 |
2020-05-08 09:33:16 | ROKU | sell | $127.650 | short |
2020-05-08 09:33:41 | ROKU | sell | $127.740 | short |
2020-05-08 09:33:58 | ROKU | sell | $128.300 | short |
2020-05-08 09:34:09 | ROKU | sell | $127.130 | short |
2020-05-08 09:34:30 | ROKU | buy | $127.770 | short |
2020-05-08 09:34:52 | ROKU | buy | $127.840 | short |
2020-05-08 09:35:20 | ROKU | buy | $126.540 | short |
2020-05-08 09:36:11 | ROKU | buy | $125.760 | short |
2020-05-08 09:45:01 | ROKU | buy | $126.660 | 0 |
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