-BYND had news of tripling distribution to over 2400 WalMarts. BYND Gapping higher in the PM from news.
-BYND has 12.5% short float.
- I initially wanted to trade with 2 or 3 contracts with 1 to hold but with my BYND trades in the past, it can reverse quickly and hard so I decided to just scalp.
-Small dip at open and push higher above VWAP, 2nd 1 min candle held VWAP and I entered with 1 CALL. Next candle pulled back to VWAP and I exited on FOMO. Small green
-Once I saw it was holding VWAP I tried to enter again and missed my fill. I was able to get a fill as it pushed through morning high. Planned to hold with target of 167 and stop below VWAP. As it neared 167 I exited to lock profit.
- Was waiting for another retest of VWAP but missed because I was watching another chart at the time. When I saw it approaching 167 I got an early entry but BYND looked strong and was ready to exit quickly it it reversed. As it broke 167, target was 170 and stop was bids holding below 167. As BYND pushed higher I didn't like the topping tail of 7:46 and 7:47 candles so I took profits.
-The good, I recognized a strategy before open on past experiences with BYND.
- The bad, I traded a little scared, taking profits quickly. I also had some poor entries.
-I still have a lot to work on but I am enjoying the quick in and out trades on news or significant levels.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2020-09-29 09:31:36 | 2 OCT 20 165 CALL | buy | $5.550 | long |
2020-09-29 09:32:12 | 2 OCT 20 165 CALL | sell | $6.050 | 0 |
2020-09-29 09:33:34 | 2 OCT 20 165 CALL | buy | $6.300 | long |
2020-09-29 09:39:11 | 2 OCT 20 165 CALL | sell | $7.000 | 0 |
2020-09-29 09:44:54 | 2 OCT 20 165 CALL | buy | $7.010 | long |
2020-09-29 09:47:20 | 2 OCT 20 165 CALL | sell | $8.050 | 0 |
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