Main Account: +$1947.
Back Account: +$3974.
Crazy day. Massive massive range on AQXP. Gapped up from $11 to approx $17 then gap and go to a high of $55 then closed at around $19. Unfortunately it never gave a nice defined risk-reward opportunity for the long and so was a missed opportunity. I managed to catch 500 shares on the opening drive from $18ish to $25ish before it ripped straight to $55 (also sold 400 shares somewhere around 20ish). Reality is that I had to sell though because it was straight off the open and there was never any way to control risk; which is of course such a shame because if it gave the right setup I was prepared to put massive size on the long after reviewing the mistakes I made on the Friday. But given the opportunities I capitalised fine. In fact I would go so far as to say that I overcapitalised because I had fomo and started in a little earlier and a little larger than the gap and go setup justified.
A couple of notes:
- Usually wouldn't be prepared to put size on the long side on day 2 for a float rotation play. But the news and combination of gap, and resulting smaller float meant it was okay.
- The profit in my IB account mainly results from shorting AQXP. Once it was extremely clear the top was in I put a resting order to short in and slowly got filled. I actually only got 187 shares short but because it was such a massive range that obviously amounted to a lot.
Negatives for the day:
- Got and felt a little reckless after the morning excitement. It wasn't so much the money but just the enormity of the move.
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