Entry A
Exit A
Thesis: Was watching the market overall and saw a downturn, pretty strong. Really wasn't looking to play this as anything other than a hedge against open positions. I took the debit spread on some market hesitation after open and a little pullback. After hitting 200% I noticed a stall in the markets. I was up, had covered entry on at least one of my open positions so locked it in. I've only been using 30 min and 1 day charts for my positions and then keep track of the market internals on the 5 min. Interrnals were reading well this morning so made for an easy entry. The larger charts gave me confirmation with time enough to make a good entry. Not really much more to this trade. Other than to mention I was perfectly ok with it going to zero. The risk reward was incredible on this.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2020-09-21 09:49:32 | SEP21 20 3200 PUT | buy | $0.8500 | long |
2020-09-21 09:49:32 | SEP21 20 3185 PUT | sell | $0.0000 | short |
2020-09-21 10:40:06 | SEP21 20 3200 PUT | sell | $2.550 | 0 |
2020-09-21 10:40:06 | SEP21 20 3185 PUT | buy | $0.0000 | 0 |
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