Entry/play, and management: TRADE ERROR:
After 1 min buying I meant to buy puts, but I accidentally bought calls. Then I PANICKED! Sell right away? Use a stop? I couldn't think! I didn't want to miss the short while I was managing the calls, so I ALSO meanwhile quickly bought puts, and started managing the long trade (which I assumed would be the loser).
First, I put a stop on the calls below day low, which I trailed up, managing like a usual long especially when it started surging, eventually squeezing it pretty tight and getting a surprising decent trade out of it.
The accidental calls were hedged by the puts, though the calls were accelerating. When the calls stopped, I started managing the puts (I couldn't really handle managing both and I still assumed the play here was ultimately short). First stop above day high. Then I closed on a trailed stop.
Psychology: Shock and panic! I don't know if I could have gotten much more out of this trade, given the level of panic. In fact, I wonder if I would have stopped the puts correctly if I had initially bought only puts as I intended.
Not including the initial error, I think I handled the situation ok.
