After the break and retest of VWAP and the way ROKU has been trading I knew that this was the move down I planned for when I saw conviction to the downside. (e.g. sellers hitting the bid. Large prints going off, no bid holding the l2, increasing steady volume on downticks) I entered short planning for another pullback and held through it while monitoring the tape and saw no real volume for buyers. When I saw the amount of selling going on and SPY dumping at the same time I strapped in for the ride. I had decided a sell point of the break of 125 and ROKU hit that and more. I sold my position after the third extreme volume candle at the break of 125. Greed doesn't pay. This wasn't a drop on bad news. Just a normal sell off so I wasn't being greedy. Ended up being a perfect trade.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2020-06-24 09:45:26 | 26 JUN 20 125 PUT | buy | $1.940 | long |
2020-06-24 09:51:40 | 26 JUN 20 125 PUT | sell | $3.000 | long |
2020-06-24 09:51:40 | 26 JUN 20 125 PUT | sell | $3.000 | 0 |
You need to log into your Tradervue account to leave a comment. If you don't have one,
it takes
just a few seconds to sign up, and it's free!