Trade Recap for 9/14/23

Trade 1: $COIN 85c

• Reasoning: relative strength

• Entry on the contract: 9/15 85c .84

• Exit on the contract: .90

• Profit in percent: 7%

COIN was showing strong price action starting off the morning and was testing the key 83.20 level. When COIN crossed 83.20 I went long for a breakout looking for a push into the 85 resistance. COIN was very slow off the breakout and the weekly premiums barely moved so i sold for a small gain. COIN later reversed lower so it was a good read.

Trade 2: $GOOGL 140c

• Reasoning: 138 breakout

• Entry on the contract: 9/15 140c .92

• Exit on the contract: .85

• Profit in percent: -7%

GOOGL broke over 138 but this was also a very slow mover through 138. It broke over the high multiple times but ended up failing to move higher and price action was resulting in a false breakout. I raised my stop to 138 and took the small loss on it. It did end up moving higher to 18% on the contract before reversing lower.

Trade 3: $QQQ 380c

• Reasoning: 378 breakout

• Entry on the contract: 9/15 380c .68

• Exit on the contract: .52

• Profit in percent: -21%

QQQ was able to show a lot of strength following the 376 reclaim this morning and was setting up for a breakout 378. Every dip was bought up aggressively over 376 and when it broke over 378 I went long using the 380 for tomorrow. QQQ failed to get through 378 on multiple occasions and ended up stopping me out of the position. Overall it was a trickier day and definitely a frustrating one. Felt like I couldn’t gave the move I was looking for on a lot of the positions. One of these days but cant let it get the best of you.