CVNA Trade on Sep 22, 2020 15:13 from Marius: Tradervue User Stock Trades.

Overnight global markets rallied and the US side followed through after yesterdays late bounce. VIX was also declining. No major news but looking to appear a technical bounce in the markets with former leaders starting to show bids. Adding important screenshots below which improves the market analysis and trading product selection process more in detail.

Carvana was one of the first stocks that came up on the screener. I had previous trading history with the stock so I new about the company and where the levels where. The company was upgraded by two Tier 1 analyst's, JP Morgan and Goldman. The stock is also notably shorted but the company has been a WFH buy since Q2. Good recent earnings from what I remember as well. Used car sales have been an important area this year especially with the lower interest rates and transportation health safety aspect. The online business retail model is also a notable point.

Trade Management

After my earlier trades in the month I have been more cautious, selective, and waiting for the set-ups. With the increased volatility, I'm noticing the options pricing fluctuating a lot. Need to anticipate and notice important market turning points and when there is a critical change in buying/selling.

I'm anticipating follow through here with shorts covering and markets mean reverting. Seeing the market turn and the specific set-up here heavily weighed in on the selection process. There are alerts set for risk management trade decisions and will see how this develops with 3 days left on the options.

Intraday Fundamentals

RVOL 6.55
AVOL 1.73M
ATR 14.92
Short Float 26%
Institutional Ownership 49.6%
Market Cap 39.09B

Institutional Ownership Data

Tier 1 Upgrades

Additional Data (earnings date, updated short float, news, financial analysis, estimates)

Options Statistics

SI 6.204
IV 90.78%
IV Percentile 26%
P/C Ratio 1.046
VWAP 222.408

Options Positioning

OI 192
Vol 128
Delta -.01
Theta .-.11
Vega .01

Technical Analysis

Overall Indices - noting the market bounce

Currencies - noting the dollar strength and breakout

Bonds - general analysis

Energy - general analysis

Metals - noting weakness from dollar strength

Sector 1 Day Relative Performance - noting top 3 performers with market bounce

Sector Performance Spectrum Scan - equites big picture w/ detail

Overall Performance Spectrum Heat Map Scan - equities bigger picture w/ more detail, showing large cap tech / consumer cyclical inflows

Top Sector Performance Scan - noting CVNA along with others in area

SMB Scanner - showing stocks in play

Intraday Chart w/ Market Breadth

Tape Reading
Noting the the large call buy order from the morning. Need to do more research here and find if there are more variables that can help. I haven't used the level 2 in my options trades unless near important levels and critical trade decisions. It should be on with my trade executions because it is an extra edge / variable like every point mentioned above. Will be reviewing this again in the future.

Trade Review

Trade was initially autoscaled out shortly after the opening bell. I had my GTC orders in place to scalp any profits with a 50% gain overnight. I checked in on the order later into the open and saw it was trading at S1 and decided to scalp the rest. A goal was achieved and plan was to review the markets into mid-day and re-enter or put on a new trade. There was actually some give back today in the markets.

I could have traded this better by getting on the desk when closing out positions. The exits were initially automated then manually adjusted on mobile as I modified the orders to scalp the rest. Keeping in mind that the main goal is to maintain consistent profitability but working on sizing and frequency to adjust to the growing profit targets. More importantly the markets are still determining my convictions in trades. Noting the volatility and ranges in the current correction market regime. Better to stay agile, flexible, and open minded for the time being until there is better clarity in main trends. Been flipping both long and short the entire month thus far.