Shared by
tjmiller2001
Got short with a solid RR while hoping to short the rally on a name with more room to the downside. I liked getting short because of the Gap below on AMD under 73.9. Also, SPY had been downtrending all morning so I felt good betting on the current overall market trend.
The market reversed after my entry and uptrended for the rest of the day, stopping me out. Not a devastating loss but need to be more selective with the plays I take on 0DTE Friday. Those can go against me quickly, and as a beginner, there's no problem with admitting I can't react quickly to fast price moves and execute my exits without much slippage well.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2020-09-18 13:43:38 | 18 SEP 20 75 PUT | buy | $0.8600 | long |
| 2020-09-18 13:48:43 | 18 SEP 20 75 PUT | sell | $0.7000 | 0 |
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