Shared by
beno
Fundamentals
Market vol product
Catalysts / News / Painting the picture
-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
-March 23 2020: The Fed just pledged asset purchases with no limit to support markets (unlimited QE)
-April 09 2020: OPEC most likely enforce 10m barrel per day cut of production to stabilize prices
Technical Analysis
-SPY pattern: Fade
-Intraday pattern: Runner
-SPY Levels: 279 - 280, 282, 284, 286, 287
Strategy / Confluence / Sizing Guide / Risk
Strategy: First test long of SPY 286 level (SHORT TVIX)
Confluence: Whole $
Strike Zone: 286 - 285.6
Sizing (lots): 2
Risk (stop / Rs): Hold below 286
Review / Lessons Learned
OGT but stopped out, SPY showed strength on a single push above 286 then pulled back immediately and with conviction.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2020-05-13 10:43:17 | TVIX | sell | $173.990 | short |
| 2020-05-13 10:45:48 | TVIX | sell | $176.000 | short |
| 2020-05-13 10:51:42 | TVIX | buy | $175.600 | 0 |
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