So today a twitter feed alert came in as the market was dumping, The interesting thing was that WTW was holding and not dropping like other tickers.
By the time I got to the alert it had already popped toward 2.70. The alert came in during the second green candle below and I was late to focus on on it. That said, if you look at the daily chart you know that it based on 47 after it dumped huge on Friday.
Below is the price range for the 48 calls. Note the vertical dashed line which is a marker for the new trading day. there was a quick dip into 1.50 and then pop into the 2s at the beginning of what the person who bought 40k in calls saw.
By the time I got involved it was already 2.25/3 for bid/ask if I remember correctly. A late chase entry at 2.50-2.70 filled.
And below is where the call price was at end of day.
If one was fast and got in on low 2s that is almost 100% or if got in on a chase in 2.50-2.70 area and sold 3.50-4 area near the end of the day, that is still a 50%ish score.
The spread on this trade made it hard to get decent size filled at a good price. Normally I like to enter on a pull back and at a cheaper price than the alert, but since it was running fast I tend to only use 1/4 to 1/5 size. So nice alert, just wish I executed faster and got better fills.
The interesting thing on this is WTW was also on my watchlist and it ran right to the 61-62 target area I had. Its nice when call flow confirms your idea.THIS POST AND ALL CONTENT ON THIS SITE REPRESENTS OPINIONS ONLY AND PROVIDED FOR EDUCATIONAL PURPOSES ONLY. CONTENT SHOULD NOT BE CONSIDERED ADVICE OR A RECOMMENDATION TO BUY OR SELL A SECURITY. PLEASE SEEK ADVICE FROM AN INVESTMENT PROFESSIONAL.