Shared by
Jesus_is_God
Tags:
10DTE
SPY-trend-down-day
above-VWAP
counter_trend_trade
put
trend_up_day
This was a short on $PTON at 9:57am. It was at the top of the gainers scan while the overall market was selling off with heavy volume. All sectors were showing red and the $TICK was hitting -1k several times in a row, also the $ADD was in sharp decline. I had good conviction that the weakness in the overall market would pull $PTON down with it.
While watching SPY very closely, I got in after the HOD was established and placed my stop just past HOD. All in all this was a good risk/reward trade whether it worked or not.
Execution detail:
| Date/time | Symbol | Qty | Price | Position |
|---|---|---|---|---|
| 2022-01-24 09:57:21 | 4 FEB 22 28 PUT | 1 | $2.490 | 1 |
| 2022-01-24 10:16:19 | 4 FEB 22 28 PUT | -1 | $2.990 | 0 |
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