- Bought the UBER 20NOV20 38 put options on Sep 14 at $3.70.
- Sold the puts on Sep 22 at $4.95 for a gain of 33.78% on the trade.
- 3% portfolio allocation.
I bought the puts on Sep 14 when the RSI14 was at 73.32 (overbought) and the stock price closed above the Upper Limit Level of the linear regression model.
I sold the puts on Sep 22 when the shares dropped 5.73% for the day - the previous day the shares were down 4% but then recovered all of the losses by the end of the day - this bullish behaviour influenced me in exiting the trade on Sep 22 - I could have made a little more by holding on for more day - but the previous day's price action forced me to exit.
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