Today I exited my PL-GC spread. The chart confirmed the spread usually had a rotation of 20, which means from a swing low to a swing high even in a trend, it bounced about 15-20 pts. While the spread of -120 was very appealing, it could still go to -200 and beyond.
This trade went against me as low as -$230 (or 2.3) or so. This morning, it went to as high as +13.9 for the day. I decided to exit because the rotation was very reasonable.
In summary:
Sold 2 PLV5 at 1071.1
Bought 1 GCV5 at 1180.8
The spread of 109.1
P/L 11.8 pts or ($1180 less commissions)
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment