Market dropped out past 3 days. Today gap up and looked to be a bounce day.
My usual setups aren't setting up bc the drop. I need to work on an oversold bounce play, something like: Strong stock, oversold but holding good levels, then gapping up above intraday levels.
I'm not sure NVDA exactly fit the bill on intraday levels. I think I was lured in by Meir. And then I got in over my head. First of all, the option was $12 range. And the spread was $1 or even $2. I know that is a recipe for disaster, bc I don't want to lose extra on the spread for a stop/market order.
LESSON. Consider that pre-empting for entries is not a good idea on this setup. Preempting might work for a breakout, but an oversold bounce should prove itself first.
I also got a tiny gainer on UBER which I played well on super small pos (at least I did that one right). And a full size loser on FB puts.
