Shared by
spyrosz
Premarket gap-up to new ATHs after earnings report....which was good but rev. -16% Y/Y and after a massive run > +250% Y/Y, I thought the gap would be a good opportunity to fade.
Premarket plan was to get "short" at the opening pop towards R1=premarket high=$191-192 area, expecting a strong rejection there and a move lower towards the gap-fill price at low 170s.
Played it per plan, got short Tier 0, risking tight stop above R1=premarket high=$191, added another half-tier after 2nd rejection of R1 to the penny, expecting the break thru VWAP and a move to opening print=$182.
After I saw how it held VWAP and bounced right back to premarket high putting me under-pressure, I realized squeeze was coming, so I quickly bailed.
Filler size loss.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2021-02-11 09:41:35 | Z | sell | $188.970 | short |
| 2021-02-11 09:47:57 | Z | sell | $188.990 | short |
| 2021-02-11 10:08:00 | Z | sell | $188.570 | short |
| 2021-02-11 10:15:51 | Z | buy | $190.080 | short |
| 2021-02-11 10:22:20 | Z | buy | $190.960 | 0 |
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