THIS IS WHAT I CALL A SELL OFF!

YM 5min Chart
I'm doing my best not to regret closing my DIA NOV02'18 270 PUT. I took an 80% increase in option value over what is now a 300% gain... would've should've could've I know.

I did not day trade this chart, other than the option positions I closed today. Perhaps this is just another bear trap, either way, I took my profit off the table and I will wait for a market retracement before I decide to get short again... via options.


Comments

  1. That was a nice drop. Historically there should be another short opportunity coming. Watch out for the 200 dma. Good Luck!

    ReplyDelete
    Replies
    1. Thanks Michael, I am currently still bearish long term.

      Delete
  2. Here's the other short opportunity, hope you were able to take advantage of it.

    ReplyDelete
  3. Michael, I am happy to say I am still bearish... now I am burden with the responsibility of how much profit to take and when. I plan on closing my position if YM gets back above 25k, within 30 pts as I type this. I will probably kick myself if the market sells off without me.

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