EASI 3 pointer here so far and $0.40 on calls! Good lesson on proper trading procedure. We followed EASI this week but would not buy in the midst of downside especially as it was down around 3 yesterday and from 52 in 3 straight wide range bar sessions! We do not enter earnings plays prematurely on the hopes of getting the good EPS gains. (We did not want our traders in EASI until it finished correcting and today was the day)
ADSK is still in "short mode" even though we like it, we certainly are not buying it in the midst of a correction. We had a trigger for today for EASI that "hit" and got in near the bottom, picking up some stock and call options. Profits are taken in the stock incrementally and there is a HARD STOP (we don't hold through downside) and partially in the calls, and we'll do it again tomorrow or later in the session. Even the best stocks will pull back when market internals worsen to the degree they are worsening today.
There is no need to hold and watch profits erode even if they are healthy profits and they certainly were healthy with EASI. Good day with only a small number of stocks stalked. ODSY, SNPS huge, ZRAN was a "sleeper" we didn't expect while NOVL is potentially a longer term hold. Ironically today is the first time couldn't get out of call options timely this morning so relegated to buy NOVL and get the gains that way.
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