THIS IS WHAT I CALL A SELL OFF!

October 10, 2018

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

MichaelOctober 18, 2018 at 4:56 AM
That was a nice drop. Historically there should be another short opportunity coming. Watch out for the 200 dma. Good Luck!
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Replies
MichaelOctober 23, 2018 at 9:24 AM
Here's the other short opportunity, hope you were able to take advantage of it.
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TrinOctober 23, 2018 at 12:29 PM
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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