HOOD Trade on Oct 5, 2021 09:34 from AtlasVanguardTrading: Tradervue User Stock Trades.

This was a news trade that I was tipped into by @SteveSpencer from SMB Capital on twitter. I was looking at my gap up scanner this morning to find a set up that was catalyzed by some sort of odd news that would send a stock with momentum and Steve mentioned on twitter that he was watching HOOD based on news of a new 24/7 phone support that is totally necessary for them to grow as a company.

Enter stage left: Fundamental News?

Anyway I charted my levels and decided I would enter long over 41.40 price level with targets at 41.80 and 42.50.

Because this stock is relatively cheap and has little IV contracts were very affordable and I was able to scale in with a full size of 6 contracts.

Funny thing was that the news about robinhood offering phone support was not on TOS news feed yet so the stock found heavy resistance between my two profit targets. Since I was using options I decided it would be best to scale out directly into momentum from reading the tape and seeing large offers get taken out. I scaled out of a lot of my position at 42 and then flattened out once HOOD showed weakness headed toward 41.80 for a retest. I got flat and was out of buying power for the day. This was a 12% increase on my account.

Hood looks like it responding well to the news overnight tonight and I should have been watching this to add an overnight swing in one of my swing accounts.