Whats The Plan/Trade/Thought
- I had filled my Macy’s trade first but as I was looking at the charts I realised that it was possible for me to create some sort of a hedge with JWN and M (one being Puts, the other Calls).
- JWN similar to Macy’s has strong S&R lines at 30, 26 and 24.19
- As I believe we are in the ranging situation. I expect the price to drop or go up but be contained within the S&R lines at least for the short term
I Feel
- I’m entering this reflection post and 2 days after filling this trade, Fed Powell announces the rate hikes and the price drops by 5.25%. Not surprising, but I didn’t expected this drop to happen so quickly. I figured this would happen closer to May.
- I’m still confident of this trade plan
Imagine Yourself Taking The Other Side
- This is possible also as it is aligned with the range movement I expect and there is an S&R line at 30.20
Imagine Yourself As A Neutral Observer
- This trade as a hedge with the Macy’s trade makes good sense and the strong S&R lines below at 26 and 24.19 gives good resistance
Look For New Information
- Before trade entry Nordstrom generally has positive news with it rising 27%
How Do I Feel Now
- I feel ok, with the current situation but will have to monitor how the first S&R line holds
Trade Specs
- Sold 340 Puts @ 0.22 - Strike 22.5
- % to Strike 29%
- ATR 22%
- BP used 75k
- Max Gain: 7534.4
手動結束交易:
I'm not happy with the decisions i made that was focused on profit instead of risk mitigation when the entire retail sector was doing so badly.
I had multiple opportunities to exit with no to minimal loses but I was just hoping for some luck...
Loss -57k here. I must remember this trade and learn from it
I had multiple opportunities to exit with no to minimal loses but I was just hoping for some luck...
Loss -57k here. I must remember this trade and learn from it
Writing this post entry. while the elements were there to show some slowing down of the drop. It is still a very risky trade as it is possible that the market tanks on Monday. Especially sicne JWN has shown to drop up to -6% a day
Sold 240 Puts @ 0.18 - Strike 21
% to Strike 14.96%
BP used 50K
Max Gain: 4164