DDOG Trade on Dec 11, 2020 09:30 from tinman108: Tradervue User Stock Trades.

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tinman108

 
  • DDOG popped up on my EOD unusual volume scanner from the day before. After checking the chart I saw that it was testing a resistance level from the end of Oct/beginning of Nov and this was the 7th or 8th time testing that resistance. Numerous analysts upgraded target price recently, and cloud services were seeing some bullish news.
  • Picked up a wide Calendar spread ($5) and watched it consolidate a few days. Surveillance of DDOG indicated that it was a relatively low-volume intraday ticker compared to what I am normally trading, and that it rejected and bounced hard off SD-zones (intraday and higher agg zones).
  • Formed a nice traingle up into the 105 price all day on the 16th, and gapped up overnight above 105 and pushed higher.
  • I had target levels marked at 108.25, 109, and 110 for rejection zones and profit taking areas. Because of the nature of the Calendar spread and higher IV on the front month contract, I waited for a rejection at one of the levels above and it happend at the 108 level.
  • On the dip back to 106 I bought back the short side, and held the long side for what I anticipated would be a bounce and push back up to the 108/109/110 levels.
  • Closed the long Call into the momentum as it pushed back into the 108.50 level.
  • Captured a little over 70% profit on this swing trade

Execution detail:

Date/time Symbol Side Price Position
2020-12-11 09:30:18 8 JAN 21 110 CALL buy $2.920 long
2020-12-11 09:30:18 24 DEC 20 115 CALL sell $0.7700 short
2020-12-17 10:03:01 24 DEC 20 115 CALL buy $1.000 0
2020-12-17 10:20:28 8 JAN 21 110 CALL sell $5.200 0


Comments

Gravatar mithunkris
2021-01-01 07:16:06
 

Awesome Tinman - well documented.

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