- Bought the CVX 15JAN21 82.50 puts on Nov 12 and Nov 16 for an average cost of $4.28.
- Sold the puts on Dec 4 for a loss of 66.82%.
- 9% portfolio allocation.
I bought the CVX puts on Nov12 on a down day and then added to the puts on Nov 16 when the shares spiked higher - they then dropped modestly for three days and then spiked higher again - note that the price bars were green (bullish) the whole time - this is a lesson in trying SHORT a stock with way too much bullish momentum.
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