1d:5m SPY
1d:5m SQ
-The SPY was clearly in a massive downtrend all day today basically spiking 3% at CPI data then immediately sold off and deleted the entire gain which is to be no surprise to any trader who has been trading this year. We have a massive day tomorrow with JP and 50 bps hikes so big moves the day before such a monumental moment in this bear market is just the normal.
-I took this short here and almost top ticked SQ and also sold almost perfectly at lows. I am not going to sit here and say "I planned this awesome trade etc.. becuase I truly did not expect this and I also got lucky by not being greedy and selling once I hit 50% return on the option. This trade was 30% recognizing that SQ was divergent from the SPY, 40% recognizing that the price of 74 had a bunch of volume packed into it, and 30% luck. Happy I got this one through and it worked out as well as it did. We will see tomorrow if I sold this way too early or not. If the SPY moves lower at open and we do a 75bps hike I am going to kick myself.