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td2022

 

SLB

May 27, 2022 14:24


Entered this trade following short squeeze technical analysis (Dan Rawitch strategy). Our plan is to exit if a breakout doesn't materialize immediately.

Risk: $54
Exit Plan: We will close the position if the underlying drops to $47 ($48.26 at entry)
Underlying Price Target: ♾️
Profit Target: $162 (3x of risk)

Concerns include entering on a Friday of a 3-day holiday weekend, and trading a strategy that we haven't back tested or paper traded. But we are keeping our risk defined and maxed at 1-2% of our Net Liq. Also, not sure if we picked the correct expiration with only 21 DTE, which probably has accelerated Theta compared with a contract further out. And we may be entering this trade a a couple of days too late.


Execution detail:

Date/time Symbol Side Price Position
2022-05-27 14:24:03 JUN17 22 52.5 CALL buy $0.5400 long


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