2 perfect setups

I traded 2 setups I thought had a lot of potential. I entered both too early and didn't get out at the 11:30 dip bc greed and challah (lesson?).

Waited another 2+ hours, during which time I went into minus. Both were itm, at least, so I felt like I had a little time. Just should have taken off more aggressively at 11:30 esp 0dte.

I should do some thinking about how to manage if it doesn't hit my Target, but does give amazing p/l. I don't want to let a good p/l go red just bc it didn't reach Target. Maybe something like if the option goes +30%, don't let it get worse than +15% (half?). Think on this.

Shabbat shalom.

Interesting, The setups are almost identical. Also DDOG and 1-2 others variations on this theme today. 

See the morning:

gem of a lesson!

Look back at my trades today. On CSCO I waited and made nice money. On PLUG (a worse setup!) I didn't wait, and lost my face.

CSCO never made the move above 50, but I still had a nice trade. Because I waited and then managed it for what I could get, even if I was disappointed. 

PLUG teased the break, then flushed. And I managed it like a stubborn ass for a big loss.

WAIT for wins.

CSCO, I waited so well. I got a great entry. Had great gains, but didn't take enough off, soon enough. Ended that trade well enough. I tried to hold for more, but the market was dropping and there wasn't enough pressure to lift this strongly. Should have taken bigger partials... 20/20.

PLUG was... well... is this my setup? On the 60, it looks like head/shoulders top. But on the daily, looks like a 123 continuation long. When the market was strengthening up, I preempted high flag breakout. It went directly against me. I tried to get out with a stop/limit, but it blew straight through and killed me. 

Again today my notes were: flat, inside open. don't preempt. 

Don't preempt got me a great entry in CSCO for a green trade. Preempt PLUG trade was a complete and utter waste, and took my day green to red.

toxic winner

Shorted BBBY today. This has been a wsb runner, and it rejected the important $30 level. But it didn't make my move until the last ~10 minutes of the market. I tried to hold for a price target or a massive (if arbitrary) pltgt. I had no intention to hold overnight so I yanked it not too badly at 15:59:06. OY! The attention I gave this all day. ugh!

Something interesting about this trade was the way the premium changed. The option at the 12:00 low was less than I bought it. And then, also oddly, at about 3:20, the option price was above where I bought it and the option price climbed before the stock price gave out. Interesting!!

Much later after hours, this thing is losing its sh$t, all the targets I wanted. So, what's the interpretation? Who was holding it up during the day (wsb?)? Who's selling after hours?

Over eager

I missed the AMZN move today. I jumped in too early and I couldn't hold on. 

No reason I should have been in that early. In my pre-open planning I wrote: 
Flat overnight
Inside open
Extended bull
Beware no followthrough

All the clues should have told me to WAIT. 

I won't come back eod, so I'll catch up tomorrow. 

2 losing days in a row, so tomorrow, half size and extra caution.

Setups

Today's AMC try was puts below 2 day support (4 day level). It worked, but not "enough" (coulda shoulda) so I got out for break even. 

Then I tried for IWM 0dte puts. The setup was "eh" but most of all I gave it too much room and took a regrettable loss.

Charts, probably not today.