Today's market really presented opportunity.
With news of the new Covid variant getting into other states i was paying close attention to market price action.
as my mentor Patty said this is where you can really capitalize on moves to the downside.
i waited for the open to see if the 4600 would hold and it didn't.
i saw the market internals were also failing to continue in trying to stay above previous day highs.
i saw the heavy selling pressure and the tape (THE BID)kept showing the ask was lower than the price presented.
i took 3 scalps to the downside.
i did note certain levels for potential bounces like 4550 and 4525.
seeing lower highs and market momentum gave me confidence to execute my trades.
direction and momentum is what we need for option contracts to work out well.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2021-12-03 09:50:10 | 3 DEC 21 4550 PUT | buy | $10.700 | long |
2021-12-03 09:51:14 | 3 DEC 21 4550 PUT | sell | $13.700 | 0 |
2021-12-03 09:53:51 | 3 DEC 21 4530 PUT | buy | $11.200 | long |
2021-12-03 09:54:46 | 3 DEC 21 4530 PUT | sell | $12.700 | 0 |
2021-12-03 10:42:00 | 3 DEC 21 4500 PUT | buy | $9.400 | long |
2021-12-03 10:43:48 | 3 DEC 21 4500 PUT | sell | $10.400 | 0 |
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