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The opening drive high in SPY was 389.20. Around 10:12 SPY took this out and moved higher, then came back into this level. I initially tried to buy this level, but got stopped out. I then took a short, which was this trade. On a 10-minute chart you could call this a stuffed trade. On a lower time frame, I was just trading against a level which I didn't think would hold.
I took an initial 2 lots of 50 shares each short when SPY wicked over the 389 level. I did cover some of the shares pretty quickly into the 388.5 level, which took all risk off in the trade. I then covered in increasingly smaller lots as SPY continued to push lower. It was definitely the right spot to have gotten short and the trade worked really well. My best cover was 386.50, which was better than I expected. I closed the final bit when SPY went over 387 and looked to want to go higher.
Execution detail:
Date/time | Symbol | Qty | Price | Position |
---|---|---|---|---|
2023-01-10 10:27:52 | SPY | -50 | $389.090 | -50 |
2023-01-10 10:27:58 | SPY | -50 | $389.025 | -100 |
2023-01-10 10:28:07 | SPY | 20 | $388.840 | -80 |
2023-01-10 10:29:10 | SPY | 12 | $388.550 | -68 |
2023-01-10 10:29:10 | SPY | 8 | $388.550 | -60 |
2023-01-10 10:29:24 | SPY | 12 | $388.056 | -48 |
2023-01-10 10:29:29 | SPY | 12 | $388.061 | -36 |
2023-01-10 10:30:31 | SPY | 6 | $387.740 | -30 |
2023-01-10 10:31:19 | SPY | 6 | $387.570 | -24 |
2023-01-10 10:31:42 | SPY | 4 | $387.210 | -20 |
2023-01-10 10:33:21 | SPY | 4 | $387.125 | -16 |
2023-01-10 10:36:04 | SPY | 4 | $386.870 | -12 |
2023-01-10 10:44:23 | SPY | 3 | $386.430 | -9 |
2023-01-10 10:50:32 | SPY | 9 | $387.110 | 0 |
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