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Loser: 53.01% Loss On JWN Puts

Jan. 16, 2021 2:27 PM ETNordstrom, Inc. (JWN)
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  • Bought the JWN 19FEB21 32.50 puts on Dec 22 at $5.15.
  • Sold the puts on Jan 7 at $2.42.
  • 3% portfolio allocation.

I bought the JWN puts on Dec 22 when the shares closed below the $30.00 support level and looked like they were going to roll over - but they rallied the next day and traded sideways to Jan 5 - even though my momentum bars were bearish - the shares then burst above the the $32.00 support level on Jan 6 and the trade was done. 

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