Entry
- Risk factors:
- Rapid swings that make it hard to capitalize on selling when in profit
Rationale
Market was moving and I thought that it was behaving rangy over the last 3 trading days.
Logs
Trades
Exit
The exit trade
Execution Review
Really bad entry. This made it hard to stomach any indecision in the price movement.
Lessons Learned
- Do not open a straddle in the morning. The contract prices for the calls the morning I bought were crazy high and decayed greatly.
- The straddle trade works best when a major move looks very very imminent, and the move has to be fast. Can't sit around on slow steady climbs.