Shared by
AofP2017
Tags:
Stop:
close below the 50sma
Target:
%50 then 80%
Reason to exit:
Mistakes &/Or Concerns
Execution detail:
| Date/time | Symbol | Qty | Price | Position |
|---|---|---|---|---|
| 2020-06-19 10:53:51 | JUN26 20 50 PUT | 2 | $0.2050 | 2 |
| 2020-06-19 10:53:51 | JUN26 20 55 PUT | -2 | $1.655 | -2 |
| 2020-06-19 10:55:02 | JUN26 20 50 PUT | 2 | $0.2100 | 4 |
| 2020-06-19 10:55:02 | JUN26 20 55 PUT | -2 | $1.620 | -4 |
| 2020-06-23 15:27:34 | JUN26 20 50 PUT | -4 | $0.0800 | 0 |
| 2020-06-23 15:27:34 | JUN26 20 55 PUT | 4 | $1.388 | 0 |
Comments
AofP2017
TechOptions, I'm not sure you understand what is happening here. I am long AMD and my position is a bull put spread that expires this week. I understand you may be just trying to help someone out and I appreciate the input and I also agree on not chasing and waiting on pull backs/ rallies.
TechOptions
aw gotcha, ya the system doesnt tell whether its a spread or not. My apologies I assumed with the smaller position size you were a newer trader. Always just trying to help out the new guys. In that case Nice Work!!!! LOL
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If you were trying to go short here you were chasing this trade friend. There was a clear reversal that was right up against a sub support level. A 54 weekly C here for a scalp would have been a far better play. Could of squeezed a +$20-$25 per contract. The short you should have taken was right after the opening run, followed by that big red tweezer candle, as thats a high probability reversal setup. Once a stock makes a decent move. You should always be looking for a pullback regardless of what direction you are taking her. when you entered there. she had already retraced over 50% and is ripe to pull back before she continues the trend. If you miss a move dont chase it. You will get burnt 95% of the time. Stocks are like buses. a new one comes by every 15 minutes. So no need to chase. Just wait for a better setup.