facebook exit plan for 04/17 $165 puts that I bought & DCA down

16 abr 2020

BOUGHT (1) Fb $165 4/17PUT @2.0 ($200) Apr 8, 2020, 2:24 PM
BOUGHT (2) Fb $165 4/17PUT @1.3 ($260) Apr 9, 2020, 3:54 PM
BOUGHT (4) Fb $165 4/17PUT @0.80 ($320) Apr 13, 2020, 3:53 PM
High $2.14 Low $0.69 ON 04/13/2020
BOUGHT (15) Fb $165 4/17PUT @0.30 ($450) Apr 14, 2020, 9:32 PM
High $0.73 Low $0.18 ON 04/15/2020
total investment = 1,230 – 55 = 1175
average cost = 0.55 (1,175/21=55).
amount of contracts 21.
SOLD 1 x 0.55 = 55 on 04/15/2020
Current price of option: 0.21 X 21 = 441 (04/15/2020)
break even price 164.44
ideally scenario:
0.55 X 21 = 1175
0.59 X 21 = 1239
0.60 X 21 = 1260
0.65 X 21 = 1365
IMPORTANT NOTE: 04/15 MARKET PRICE WAS 173.09 AND THE PRICE OF THE OPTION WAS 0.58. I WAS IN PROFIT +43.91 AND TODAYS RETURN WAS 609.00 (100%)
04/15/2020 SUMARY: So it seems that’s the opening gap got filled and basically unfilled during after hours.
174.84 is the First support, 174.08 Second support, 173.65, Third support. Bellow that, free fall unto = 172.27, then 170.72 Major support.
Current resistance: 176.48
Best case scenario: So basically 172 is my exit.
Worst scenario: 175
- It didn’t break it with conviction 177.50 + it’s making an inverse V shape. It seems that the bears want to win because it rebounded off the oversold rsi. It seems that 50 Ema is getting tired af too. It actually couldn’t stay above it, which I would consider it a soft rejection. It’s try to release pressure and point downward. Also, if this 178 mountain peak is the top, that means we just created a new lower high.
- If that’s the case. Selling at a loss and rebuying new puts for next week 4/24 does not seem like a bad deal. Since I have so many damn contracts. 21 contracts, I can fuck shit up different prices. I think recover all og/seed money at 174. And then anything extra at that point is #yolo
- Spy closed at after hours at the support at 275.66. if it breaks this, it will free fall