Notes on the trade: I traded this name based on the weakness of SPY at the open, I entered the trade on the break of $32.60 at 9:31 AM but it failed right away. On my second attempt I traded it once again based on the weakness of SPY but there was not enough volatility and my one to one was not reached (I was pennies away from it). However, once I saw the inevitable failure I raised my stop to limit the loss which was the right thing to do. I gave the stock enough time to work but it just did not work.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2020-07-07 09:31:17 | VXX | buy | $32.610 | long |
2020-07-07 09:31:17 | VXX | buy | $32.610 | long |
2020-07-07 09:32:00 | VXX | sell | $32.440 | 0 |
2020-07-07 10:34:26 | VXX | buy | $31.960 | long |
2020-07-07 10:50:22 | VXX | sell | $31.890 | long |
2020-07-07 10:50:22 | VXX | sell | $31.890 | 0 |
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