LCID was my best pick of the day. Premkt plan: Daily reject resistance on earnings, gapping below green bar and below a (sort of) level. Can run up to 26 before reversing? Target in the low 23's.
Started by accidentally buying calls instead of puts. Ate the spread but got the heck out of those.
Then entered puts late. It went to my 20% pl target, but I was so cute, I thought I was going to get more (on my late entry!) to start to cover for my opening loss. So I did take a partial, but worse than I hoped bc trying to hold. In retrospect, 23.38 low was exactly what I should have been looking for (see premkt plan). I just didn't think it would reverse so strongly afterwards.
It went against me "more than I think", which I rode. The market started dropping, but this junkus hept holding on. I was hesitant to let it go. I did take stops as I tried to hold it, but eventually it went to a level I just had to cut the rest. As it is now, it's trading up almost to 26, so I'm glad to be out. Just wish it had all gone differently.
Red day.
Followup... LCID day high 25.75. Would I trade it below vwap at this point? Market continues to fade/inside.
