I think I made a lot of trades on this day because I thought the SPY was going to reverse at sometime this week and make a run for ATH again. Looking at the daily time I was on the right day to enter but on a 5min chart I chased the only rally of the day instead of just buying off these key major levels and keeping a loose stop. I think in order to capture this move in the future I need to try to risk off of historical key levels and use an option with time on it that I am not afraid to lose 50% or more premium on. Because this idea would have been very profitable because BA moved from the 205 level to 220 before the end of the week.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2021-09-20 11:04:53 | 24 SEP 21 220 CALL | buy | $0.6100 | long |
2021-09-20 11:45:31 | 24 SEP 21 220 CALL | sell | $0.4900 | 0 |
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