It’s getting COLD in here….
Trade Management: position CLOSED July 20th, 2020. 7/20/20: we had a significant 7.4% pullback since the high established on July 8th. On July 11th we tighten our sell order limit to $8.50 to align with our $38 initial price target in case stock popped off the 50 day MA which luckily it did. Today, July 20th, the sell limit triggered at the opening. Though there was plenty of time on the contract, within the entire portfolio we’ve been observing higher than expected volatility relative to the S&P 500 which is a signal for dialing back exposure and increasing our cash position. 7/8/20: on July 8th the position had a terrible bearish reversal that engulfed the prior 4 trading days….this triggered red flags as the stock closed on the 10 day MA – our sell signal. Prior to that point that stock was moving higher and was well above its 10…