Entry
- Risk factors:
- Stagnant price movement since it is summer
Rationale
Felt that it was right at point where it could make a big move either way. Either collapse or breakout higher from this descending trend line.
Logs
Trades
Exit
The exit.
Execution Review
- Held over earnings (-)
- Cut my position when it looked like the downside move had lost its momentum and it was going back into the range, which will kill my premiums. (+)
- The entry was a bit better than my last Google straddle position, most of the theta crush was over the earnings.
Lessons Learned
- Held on to this for too long and through earnings. The theta drop over earnings made this trade hard to profit from.
- I need to be a little bit less patient on the straddle trades. The best ones that have worked out for me are the ones that react quickly.