I felt like I had a very late entry into this short. I sold 100 shares at a fill price of $70.82 and put a cover at $71.01 in case it moved against me. Once the drop started I moved my cover lower and was able to hit this almost at the to the bottom of this by setting my cover limit a few cents over the prior low. It took a slight bounce and offered another shorting opportunity but I had already moved on to other stocks to trade. Was out for a small gain of $56.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2014-04-03 09:49:09 | SPLK | sell | $70.820 | short |
2014-04-03 09:57:45 | SPLK | buy | $70.260 | 0 |
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Nice entry. Hold some shares for the real play.