Monday, June 29, 2020

+13% day. Tough start, then got paid.

I came in with long and short picks. I like how I stayed clockwork, even during losing. At a certain point I had a gut feeling like "if this trade doesn't work, I need to stop." Thankfully, it worked, but I need to be conscious of and obey those feelings.


Day started off with SPY doing some volume selling, but OSTK looked like it would hold strong, but quickly gave up.









Next trade on PENN short did well, but the spreads were wide so I took progressive limits and a final stop.













BA was incredibly strong gapping with news. After my first failed long, I stabbed short and failed again. One more shot at calls, which I pieced into to reduce risk. That's when my day turned the corner with a really strong winner on this large-size trade. Something else to note here, is yet again BA shows it's propensity to make a second move outside (grabbing stops and sucking in suckers) before reversing for the big one.









A try at GILD for a small position because it has a history of not doing what I think. And again this time, it was "predictably unpredictable". I don't regret giving it a try, and I was right to be tentative.








Finally, NVAX, another one I went into oversized after an add. Spread was up to $2 on a $6 option, so I had to take limits at the same time as trying to give it room. That mid morning base around 10:40-11:20 was really uncomfortable for me. I'm glad it came out for big gains.


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