I heard some analysis after the fact stating that the effect of retail trading has led to a lot of dip-buying on Wednesdays rather than on Mondays or Fridays which used to be the case.
If I would have known that before today I might have played things differently. It was a high stress day that paid off at the close, not my preference.
Log
- Had a lot of distractions which kept me away from the terminal through the trading session, which made me want to play this one more conservatively.
- Saw a spike break on SMCI so I took some put positions because I believed the spike to be among one of the peaks for the day and expected horizontal or downward trending from there.
- Not sure whether it was dip-buying or not but while I was busy with other matters the price spiked almost 1-2% which put me very behind on the put options to where I was looking at a pretty sizable loss until...
- Finally the rally broke as the session started to come to a close in a big way which allowed me to close my puts positions and end the day profitably and with little risk carrying forward in the day.
Trades
- NVDA 28FEB25 139 P
- SMCI 28FEB25 59 P
- SMCI 28FEB25 60 P
Holding
- AMD
- DDOG
- IBKR