Shared by
TheFrenchTrader
The stock was surging pre market with no apparent catalyst from $35 to $51. I waited for the price to break the $45 pre market support, which happen shortly after the open.
The entry was not great as the stock bounce back to $46 before finally selling off, i was hesitant to re-add to the position but with the trade initially going against me i did not.
Too much hesitation to take profit of the last 25% at the consolidation level around the $40 area. I though it could drop further to the $37 level, but it did not and i ended up covering at $41.63, missing out on $1.50 profit per share.
Still a good profit, but not happy about the trade: when the stock start to consolidate or trading sideway, it is better to take profit and run.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2021-10-01 09:31:32 | AVIR | sell | $44.770 | short |
| 2021-10-01 09:39:56 | AVIR | buy | $42.980 | short |
| 2021-10-01 10:15:38 | AVIR | buy | $41.800 | short |
| 2021-10-01 10:53:56 | AVIR | buy | $41.630 | 0 |
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