Shared by
yoosh
On the daily candle this was gapping above the last couple of days and I knew that anyone that was short from the big red day would probably have their stop limits placed there to exit. I was waiting for the retest of the previous day high and it happened so quick I was not quick enough to enter the options. At that time it was aroud $1.80 but I wanted to make sure that it would not go down further so i waited for the next round of consolidation.
The problem with this trade was the spread, it was about $0.2 - $0.3 cents so I really did not want to buy or sell the bid if I could avoid it.
The only thing that i might have done different is that once I saw that the retest level has bounced, I might want to get in straight away.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2021-12-09 09:37:03 | DEC17 21 170 CALL | buy | $3.300 | long |
| 2021-12-09 09:43:14 | DEC17 21 170 CALL | sell | $5.000 | 0 |
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