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Second successful Option Trade but, first LEAPS option trade. Figured with Tesla close to its 5 year low I don't have much to lose but oh so much to gain. Sold one contract to make quick gains and rebought it at $18.95. Currently, 2 contracts being held and being on the lookout for another buy-in.
The Reverse Stock Split Pattern. I didn't even know this stock did a reverse stock split until today. The PR came out and it spiked and then fell and then consolidated in premarket and that's when I got in. The reason I got in in premarket was that it was liquid. I do not think this was a great trade because the pullback from the initial spike was more than 50% but the stock did have a double bottom and that is why I took a small position.
14h00 - Buy 200 shares @3.25$ The stock was doing good since the beginning of the day. Buy at resistance. 14h41 - Sell 200 shares @3.25$ Didn't want to lose (like the last days)... Decided to get out break even (and then the price bumped up ... :\) Should have been a little bit more patient because it went to 3.99$... Still learning...
Bought this after it had news looking for an end of day squeeze up to 3.5 - and even 4 if it passed that. Risk was 3.24 - stock bounced up and then pulled back and dropped to risk - I sold and it rebounded immediately. Pulled the escape a little early and should have been a bit more patient. Learning to buy near support levels before breakouts tho and not at breakout point - mitigating risk. Solid mover today on news - stock spiked at 12:26 - need to respect trading plan -- uggh
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