Quote:
Originally Posted by Blazed
Trade recap:
I took the 413 reject. SPX was clearly having trouble @ 4141 and rejected off it 5 times so on the 6th reject I took puts.
SPY reject 413.8 for puts✅- The gains on this trade were luck. It looked like we were going to range again for small moves up and down. So I took SPY instead of SPX so I could load up on contracts (150 contracts) since I was only expecting a small move for a scalp. Well the small move turned into a sell off, so I trimmed on the way down, definitely wasn't expecting that big of a move.
Education:
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I took SPX calls off the open based on the breaking above previous close and volume. Exited at 412.9 multiple rejects, saw it off the first reject but waited, kept rejecting, so exited. Got a $300 profit, could have been as much as $500, but I won't balk at what I got. The entry was more intuition, even though I have limited experience so maybe I really don't have that, entry just felt good at the time.