Shared by
ricky_trades
5/6/22 trades
took spy puts at 4070
market was showing weakness
we sold off this morning
nice massive sellfoff
we are now holding the 4070 area but weakness
profit target is 4050 potenial bounce area
currently around 10 am in trade
below 9ema
book map showcasing buyers at 4060 and 4050 area
we are currently strong to the upside
with a V shape pattern which is bullish
still holding no exit plan
bad trade overall
market popped up
cant break the highs
in range but large range
should have exited as soon as i saw it wasnt working out
not to mention i took out of the money puts
this week exp 5/6/22 400 puts
so being the trade didnt work out in my favor it completely crushed the premium fast
note to self - the weeks low was definitely a major area to watch and it held support and bounced nicely ( i got in for puts at this level around 405)
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2022-05-06 09:52:58 | 6 MAY 22 400 PUT | buy | $1.100 | long |
| 2022-05-06 16:00:00 | 6 MAY 22 400 PUT | sell | $0.0000 | 0 |
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