Risk- $150
Stock Variables
o News Catalysis - the Fed was prepared to move more aggressively to reduce demand and cool off the economy by making big rate increases or taking rates to relatively high levels.
o ATR – 48.26
o Vol - 19.05M
o RVOL - 1.20
o Float - 843.59M
o SF – 2.91%
o Inst Own – 42.60%
o VIX – 23
o Resistance- R1-920, R2-931, R3-945
o Support- S1-910, S2-900, S3-886
Stop - Hold Above 831
Thesis: TSLA to hit resistance and fail. I pegged the 831 level as possible resistance.
TRADE - I bought 2 Put contacts when TSLA dropped into VWAP. The option Volatility was low. TSLA was unable to retake 831. I noted this and waited for a move lower. the Fed announcement provided a good push for this to drop lower.
Thoughts: This was not a good trade for me. It was profitable yes, but intimately I got lucky with the Fed announcement dropping TSLA the market and hence dropping TSLA.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2022-03-21 11:16:50 | MAR25 22 860 PUT | buy | $5.300 | long |
2022-03-21 12:36:06 | MAR25 22 860 PUT | sell | $7.070 | long |
2022-03-21 12:39:28 | MAR25 22 860 PUT | sell | $6.550 | 0 |
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