SE on Monday faded with the market but held the $187.75 level great, completing its reversion to the mean. There was a pop before pre-market but ultimately started to come down. Once we hit the lower level of this zone of $187.75 and based, it was actually a great dip buy for a scalp but I did not trust it yet.
Instead, I entered at VWAP inside the 1m cloud, just as the squeeze pro histogram was also showing a strong shift of buying momentum and locked it outside of the cloud, right before the red bar that ultimately ended up driving this back down. Picked $195 calls since it had lots of liquidity and with the price action of the overall markets did not think the original $200 calls were as viable. $195 was also the top of the zone here and prior ATH level.
Grade: A+ (needed to use size for how slowly contracts were getting added)
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2020-12-15 10:39:40 | DEC18 20 195 CALL | buy | $1.930 | long |
2020-12-15 10:39:43 | DEC18 20 195 CALL | buy | $1.930 | long |
2020-12-15 10:45:17 | DEC18 20 195 CALL | sell | $2.130 | 0 |
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