Today's person was funny because, though he couldn't explain why I should care about an options sweep, he did go a long way to telling me that people pay for his mentorship and he doesn't need to give away information for free...and that someday I'll come crying (!) to him wanting him to mentor me. L-O-fking-L!
Amusement of the day and a reminder if I ever needed yet another reason I hope to never have to work in an office and have coworkers ever again! Motivation!
This morning I started with a loss on DDOG. In retrospect I held it too long against hope, but on the other hand, I *had to* get out there or else tragedy.
Simultaneously OXY wasn't doing much to help my situation. The spread there was wide and I didn't want to take a stop. I had a stop at 57.18 bc premarket level. Thankfully I was able to get 3/4 of the position off at b/e and lose the spread on the rest. It continued to my pl target and beyond not much later, but [STUDY] what should I do in that situation? I was in a bad situation and I had a chance to get out b/e. But if it was shaping up in my direction again, should I not hold it just in case? Where would my stop have been. I don't really regret taking off half at b/e, stopping another 25% and trying to ride the last 25% for more. It didn't work. I was focusing my attention elsewhere (AMZN) anyway.
ABNB - not much to say here. I got an alert to "go check" but I saw it moving so strongly I jumped on the 1min without looking carefully at the daily. Of course it dropped against me immediately after chasing a nms. Lucky to get 90% out ~b/e. Ate it on the last bit, and of course it ran back up immediately, but I didn't look back. Deserved that burn.
AMZN made my day. I anticipated a big move and went farther otm to get more contracts for same $. That worked great here and I was able to get partials off very well. The add was ill-advised. And most of all, esp on a Thursday, I should have just taken more off at the 100%+ and not tried to go for the next target as aggressively in an "eh" market environment. I went back almost to b/e on the remaining contracts before it perked up again into the close -- but I lost time. In retrospect, of course, I should have captured early gains and gotten my personal time back instead of sweating it all afternoon.
