Trade Recap for 9/13/23

Trade 1: $QQQ 372p under 372

• Reasoning: key support break

• Entry on the contract: 9/14 370p a 1.03

• Exit on the contract: .71

• Profit in percent: 31%

Today, SPY and QQQ both gapped down following CPI but the reaction was quite minimal. The plan today was to go short if QQQ failed at 372 or go long if it was able to get through 376 for a push into 378. When the market opened QQQ rallied higher but gave back the whole opening move and sold off with momentum into 372. When it broke 372 I took a short entry then right after we saw a 2+ point move in 15 minutes which quickly stopped me out.

Trade 2: $AMZN 144c

• Reasoning: relative strength

• Entry on the contract: 9/15 144c at 1.26

• Exit on the contract: 1.6, 1.35, 1.26

• Profit in percent: 27%

Today, AMZN was able to show relative strength and broke over the key 143.65 level. Once AMZN crossed 143.65 I went long using the 144c looking for a breakout into 145. AMZN was able to get a push into 144.50 where we took profit for 27% but following this sell we didn’t get much more momentum up until the last 10 minutes where it run into 145 but at this point, AMZN stopped me out breakeven on the last ¼ of my position.

Trade 3: $AAPL 180c

• Reasoning: key support hold

• Entry on the contract: 9/22 180c at .98

• Exit on the contract: .73

• Profit in percent:23%

Today, AAPL started the session with a lot of strength compared to the other tech names following its event from yesterday. This relative strength was a sign to focus more on longs only if AAPL was able to hold 175/176. When the market opened, AAPL tested 177 but couldn’t hold and pulled back into 175 where we found a lot of support/buyers. When AAPL started to breakout intraday, we had the overall market also at the highs. Over 176 I went long then shortly after it reversed and stopped me out back under 175. Kept it light size with this one.