Shared by
dpaleo
Tags:
2 of the dirtiest traps i've ever seen: first slamming it from $27 to $20 after a re-open of an upside halt which sucked in a ton of new shorts. And again same type trap on upside halt in $40s down to $33. After seeing first trap I was looking for same thing on second move which saved my ass. After it trapped and rammed those new short into the mid $40s I saw tape shift and hit a bid after it fell back below that previous $41 high (could used a short stop $40.99 to enter). Tried to get another 500 shares on against the circuit but no dice. Great covers on the gap down flush and from there added back on bounces and covered flushes. Given this name likely blew some accounts out I'd say i traded this very well.
Execution detail:
| Date/time | Symbol | Qty | Price | Position |
|---|---|---|---|---|
| 2020-09-23 14:06:02 | SPI | -300 | $40.150 | -300 |
| 2020-09-23 14:36:24 | SPI | 50 | $22.650 | -250 |
| 2020-09-23 14:36:24 | SPI | 100 | $22.650 | -150 |
| 2020-09-23 14:37:18 | SPI | 50 | $20.300 | -100 |
| 2020-09-23 14:37:24 | SPI | 11 | $18.360 | -89 |
| 2020-09-23 14:37:24 | SPI | 39 | $18.360 | -50 |
| 2020-09-23 14:47:51 | SPI | -40 | $25.020 | -90 |
| 2020-09-23 14:47:51 | SPI | -10 | $25.010 | -100 |
| 2020-09-23 14:48:04 | SPI | -50 | $22.870 | -150 |
| 2020-09-23 14:54:52 | SPI | -50 | $25.110 | -200 |
| 2020-09-23 14:56:01 | SPI | 50 | $21.130 | -150 |
| 2020-09-23 15:23:35 | SPI | 25 | $17.250 | -125 |
| 2020-09-23 15:23:35 | SPI | 25 | $17.150 | -100 |
| 2020-09-23 15:24:31 | SPI | 25 | $16.650 | -75 |
| 2020-09-23 15:24:32 | SPI | 25 | $16.150 | -50 |
| 2020-09-23 15:24:43 | SPI | 25 | $15.850 | -25 |
| 2020-09-23 15:36:56 | SPI | 25 | $18.210 | 0 |
Comments
dpaleo
No I had a couple shorts wayyyyyy before $40 which I shared. Managed to limit damage in those before this one.
addam
JohnnyMac
Sorry to hear that JMac. Happens to us all. Been there with CHK and HTZ this year. Gotta size down and start chipping away slowly. Make sure you take care of your mental capital after a big hit.
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Wow sick trade! Did you manage to completely avoid shorting it before 40? Most likely have an awesome short op tomorrow now