Trade Recap for 10/25/23

Trade: $AMD 98p

• Reasoning: key support breakdown

• Entry on the contract: 1.13

• Exit on the contract: 1.26, 1.48, 1.8

• Profit in percent: 60%

Today, AMD was on watch as it was trading right above the key 100 support level and under the 102 resistance. AMD was trading in this range for the last two days and was setting up for a larger move. When AMD broke down under 100 the last few days it made the low of 99.30. I used this level break as confirmation of a breakdown under 100. AMD then broke 99.30 and sold off all the way into 95 before the close. I sold the position at 98 so this one ended up hitting 150%+ but overall I was happy with the profits.

Trade: $QQQ 352p

• Reasoning: 353.20 breakdown

• Entry on the contract: 1.8

• Exit on the contract: 2.18, 2.52, 3.45

• Profit in percent: 92%

Today, QQQ was gapping down off of MSFT and GOOGL earnings and was setting up for the lower low breakdown under 354.20-353.20. When QQQ broke down at the open, we tested this range but ended up consolidating for about an hour. When the consolidation broke down under 353.20 this was my entry for puts. QQQ ended up selling off into the 350 support where we were able to book the last of the partial for 92%.