Yesterday evening and today I saw references to the triple witch for today and omens of volatility for the day. I was really not sure what to expect so I intended to focus myself on the strategy and tactics that I have been following recently:

• Look for overvaluation in the tech/semi sector
• Focus on downward momentum trades.
• Hold for as short as possible to reduce volatility risk

The first thirty minutes of the session were profitable so I stopped trading. Fortunately I was able to turn some put options around before Tesla (TSLA) had a pretty sizable rally which would have totally torpedoed my position.

Sticking to the script was successful and helped minimize risk.

Log

• Reading stories this morning about the "Triple Witch" of stocks, index funds, and ETF options all expiring today. What an exciting new source of volatility to contend with today.
• Expected to see SMCI pop and drop with some positive analyst ratings before the market, was able to churn through a couple of quicker momentum trades with the morning volatility.
• Got into and out of Tesla (TSLA) put options on downward momentum before it ran away to the upside, phew!
• Came back later in the session for the close to see how things were going, not nearly as much momentum as I had expected going one way or the other.
• Made some trades around Tesla (TLSA) which I had to quickly unwind. The momentum changes so fast to where I will see a couple of good candles downward and then suddenly athe basis points lost are rapidly regained.
• Saw a small opportunity on Reddit (RDDT) which I'm honestly kind of delighted to see has fallen almost $100/share in the last couple months. Their bad growth forecasts and a sour market really knocked the wind out of their sails. The company has never had really strong fundamentals and if they hadn't have sold user data to OpenAI I'm not sure they'd have a revenue stream worth discussing.

Portfolio