This thread will serve as a place for me to put intraday alerts on the challenge, its pumped into the #challenge-alerts channel on discord so make sure you have notifications enabled for it if you’re interested.
Added to my ASTR position this morning to capitalize on the anticipation for the launch heading into 12PM EST. Sitting at 13 7.5s
Averaged down my CVS position with one buy, my concerns about the SPY correlation were warranted. Probably should’ve left this alone at that specific entry.
Looking to take entry on some SENS 3.5c calls. Waiting for a pullback however.
One thing that I do from time to time when looking to make an entry on an option is pull up the chart for it and map out its support in terms of pricing, then I’ll try to get my cost basis as close to that level as I can. So on SENS an entry at roughly .40 is preferable.
Averaged down CVS once more. Looking to salvage this trade hopefully, new cost basis is 1.50. – This is honestly why looking for SPY correlation is so important. I’d said in VC that this trade was going to get blown out because CPI data was likely not going to be a bearish catalyst for the market and as such, CVS would follow SPY upward. The correct move would’ve been to take entry on puts AFTER that data. So I FOMO’d into this position and paid the price thus far. Still believe in the trade overall, just the time horizon to become profitable is probably a little further out than I’d prefer.
Easing into a SENS position here. I took one fill at .45 which is not all the options I intend to buy. I’m going to try to work my average down if it comes down towards that .40 but at least I have a small position to profit on a move in case it takes off on me.
Averaged up my SENS calls slightly on the red candle. For those watching the stream, what you saw me do was throw in an order off the red candle to get a preferential fill as people undoubtedly sold off on the candle itself. Now instead of collecting at the ask of near .50, I’ve preserved a cost basis of .47 which is still below the bid at this price point. Still haven’t taken my full position so I have room to average down should this be an incorrect entry.
While its unfortunate I don’t have my full position, I feel much better having a couple calls loaded up on this so I didn’t miss the move. Its why I’m such a proponent of averaging into positions. (SENS)
Added one more SENS call off this flag, this will be it for now. Sometimes you have to allow yourself some time to either be right or wrong, if you take all your entries in the same timeframe, its usually just the same as doing one large buy because the stock hasn’t had enough time to really move away from where you’re at.
I’ve activated the “! Radio Valhalla” bot which will mirror the audio from the challenge VC into the Trading Floor VC. Feel free to adjust the volume on that bot to fit your need or mute it if you don’t want to hear my ramblings.
Added one more SENS call here after noticing it looks like its in a flag. I have enough to average down still.
I’m going to be averaging down my SENS position with my ASTR gains once I cut that later in the day. Still holding full at this point.
So we’ve seen things work out exactly how he wanted Astra is basically maintaining its price level after the SPY drop and has recovered and SENS is now tracking back upward after providing some of an entry hour and hasn’t completely regained and all its losses and potentially if it holds this price level would be able to use the ASTR gains to somewhat at least average in at our current cost basis so will keep keep a watch on it.
Commenting really quick on SENS, there is absolutely a short squeeze potential however it would require an FDA approval which we are still unsure about how long it will be before that happens. However, in the event that they do get approval you could certainly see somewhat of a decent run from shorts covering and potentially also somewhat of a gamma squeeze.
This of course doesn’t mean FOMO into a position. You’ve got time, it could literally be weeks to months away. We’ve been consistently profiting on SENS in this account and there isn’t any reason to suspect that will change. Follow this challenge for help on making safe entries.
OK so with UBER it’s falling down below that support line we drew and we’ve done another one from the knife that happened earlier if we see it drop below that you’re probably gonna have some decent downward from momentum for the foreseeable future
Correction that was UBER
So on Uber this is where we run the gamble because it’s now looking like it could establish a double bottom which means if it does hold it will probably go up and at least retest that upper level that it had earlier so we have the decision on whether or not we’re going to cut because we think it’s gonna do that or if it’s gonna come down but we have to make that decision quick because it’s not gonna hold here for several candle
Also something keep in mind is more factor again I wanted to the snow coming from the spy so we have to think do we think spy is going to continue down or do we think it’s gonna consolidate and try to flag up again and I’m thinking that spy may continue somewhat down but again that’s a gamble so we’re looking at profit here that’s decent I only have what position is 100 and some dollars and a 20 on it um let’s call it roughly like 17% like that’s decent gates thank you can cut that right here