SPY Trade on Jan 28, 2021 10:10 from Fedism: Tradervue User Stock Trades.

2/2/2021- When I first looked at SPY on Thursday morning, there was a run to the upside, which seems kind of weird after there was sudden knife on Monday around 10:30 am and SPY went down the day before by 8 points. So When I saw nice recovery early Thursday the 28th. I started thinking about when to buy puts. I looked at ATR, RSI, the days before HOD and Volume.

RSI- right on 70, not going over
ATR- 4.5 and SPY already moved about 3 points
HOD- at about 380.3 which is where I bought the put, since at resistance.

SPY Wednesday 1-27 and Thursday 1-28

SPY Thursday 1-28 Zoomed in

I bought 1 put at 10:10 for about 330$. which was a bit much, but I wanted to make sure I purchased ITM, as to not lose too mention Theta. Price of SPY was $379.22. After that, SPY price kept being bullish throughout the day, but since I am under PDT, I decided to trust my instinct on the SPY Put. by 11:18, I realized I bought in too early and purchased 2 more puts at $198 per contract, bringing my average to $242 per contract. Price of SPY at this point was 380.80 4.5 points up at ATR.

Again after this add, Price kept moving up as high as 381.80 but I had conviction in the trade. I saw Choppyness between 12pm and 2pm EST, which confirmed a possible downtrend. by 2:10 pm we see break support at 380.8 and my contracts are looking great. My initial goal for SPY was 378.50. As we broke 379, I saw my contracts were in profits and decided to sell 2 contracts at 256$ per contract by 3:34 pm. Leave one going. Unfortunately, after spending all day looking at the screen, I decided I was better up closing the contract.. and closed it 5 minutes later at $240. SPY resumed to fall, costing about800$ per contract.

Things I could have done better:
-Waited on better entry at yesterdays HOD while adding contracts on the choppyness.
-Not selling the last contract, I was okay with all contract being worthless at the end, so I should have been ok losing all of the last contract.
-Not look at the charts all day, especially tickers I am in. Gets me too invested profits as opposed to process