Took the L today, Was playing the run up towards 7400 break for more upside, tapped below the area rejected after and it just was put city, a lot might ask why didn’t I just flip after knowing 7400 break, I didn’t wanna flip that soon after few candles. Spreads was so wide today and option chain was expensive, I rather take my L and move on to another day, 100% I could have just made my money back on puts but I wasn’t interested in the downside move. Can’t be green every single day that’s how you lose control and dig a deeper hole, look over the week how green we are there’s no point in chasing today. A lot may ask why didn’t I just play 7400 reaction which I should have, just wanted to get into a position. As simple as that didn’t respect the market :)
See yall tomorrow with PPI!
SPX 7490C $157 —> $0 (-100%)