This Spy Put trade was an exact play from my playbook. There was a flat top, near high of day and it had tweezer tops. This contributed to a pre-emptive spy Put buy. My original goal was 390. As I saw volume come in to confirm my thesis, and I saw it hit my 390 target, I started thinking if I wanted more. After thinking about it in the moment, Though I did see downside, it wasn't much, just another 80 cents which is equal to 40$ on the puts. I could have gone for that, but I wanted to stick to the 390 target and not get greedy. The point is to just gain confidence and in my plays.
SPY 3/10/2021 Flat top descent
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2021-03-10 10:08:44 | 12 MAR 21 390 PUT | buy | $2.410 | long |
2021-03-10 10:27:52 | 12 MAR 21 390 PUT | sell | $3.050 | 0 |
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