Stocks - SAVA Short PT 36 Sept 8-27
Updated
Idea for Cassava Sciences (SAVA):
- Decoded:
PVVol:
- H&S pattern, Distribution UTAD with Exhaustion gap (Price).
- High Volume sell (Volume).
- > 5x ATR (Vol).
- 4.236 Fib.
- ML Diamond.
PT: 36
Time: By Sept 8, but add 0.3 bars margin (Sept 27)
SL: 2.4N~ 128.38
GLHF
- DPT
- Decoded:
PVVol:
- H&S pattern, Distribution UTAD with Exhaustion gap (Price).
- High Volume sell (Volume).
- > 5x ATR (Vol).
- 4.236 Fib.
- ML Diamond.
PT: 36
Time: By Sept 8, but add 0.3 bars margin (Sept 27)
SL: 2.4N~ 128.38
GLHF
- DPT
Trade active
Sept 24 114P 25.10 debitTrade active
Long Sept 17 110P 26.70 debitTrade active
Fat fingered and sold the Sept 17 110P for 34.80 debit, rookie mistake but (+34%)Trade active
Sold some more, scaling out, Sept 24 114P 48.70 credit (+94%)Trade closed manually
Out of the position Set 24 114P for 46.50 credit (+85.2%)Foresee further downside, but as I am in theta sensitive puts (IV is already ridiculous on these, I am going to eliminate the risk of premia burning bear rally)
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