Well, we're out of excuses. We have a continuation candle to the downside, we broke the lower trend line of the bull flag channel, we closed at the bottom of the candle on high volume, we're about to get a BB/KC Squeeze breakout, and stochastics are not even in oversold territory yet.
Chances favor more downside, and there's still a lot of value in the option. So we simply had no choice but to exit the position and monitor the chart for another opportunity to enter a trade.
Waited until the last minute before selling to provide the chance for a quick pull up, but it actually went even lower in the last couple minutes.
Sold the Dec 3.50 Call at 14:19:03 ET for 11 5/8 - 15 (6/1/20) = -$168.75 loss.
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