Key Levels: bearish retest gap
Thesis: This was gapping below all key levels of resistance near the low of day. I expected this to spike and retest. Right at the open it struggled to break green red, so I thought that was a good level and shorted a bounce. I was to early and I cut my loss.
I had taken quite a few contracts because i thought this would be a good win.
Lesson: If it is bearish retest near LOD it might be work doing a longer term option trade.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2022-01-14 09:37:49 | JAN14'22 18 PUT | buy | $0.1300 | long |
2022-01-14 10:11:31 | JAN14'22 18 PUT | sell | $0.0600 | 0 |
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