First ever real option trade using Supply and Demand zones that can be learned from here:
Used the 10 Minute demand zone from yesterday (04/07) at $446 @ 13:50pm. Bounced off that demand today @ 10:00am.
Mistakes: I should've waited for the price to come back to the imbalance area but I rushed it just barely on the purchase of the call. As a result, I got the option at $0.39 instead of ~$0.33
My goal was a bounce back to hourly supply zone near r/g $449 that was formed yesterday (04/07) but I saw 5 minute supply zone forming around 10:30am so I took profits before it can have a massive push from vwap to r/g and into supply around $450.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2022-04-08 10:13:00 | APR08 22 450 CALL | buy | $0.3900 | long |
2022-04-08 10:36:00 | APR08 22 450 CALL | sell | $0.5000 | long |
2022-04-08 10:37:00 | APR08 22 450 CALL | sell | $0.5100 | 0 |
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