$TIGR 20250228 7.0 PUT$ bought back my tiger put that I sold last week, when stock dipped to 7 dollars. I knew the stock had been oversold, with 2 straight days of selling. Judging from the EMA and volume analysis, I determined that there wouldn't be much more room to go down, and that Market Movers would be looking to scoop up the stock. It was a risky bet selling so close and I made the mistake of trying to fight the price so ended with 0.26 premium for 3 contracts.
The following day Tiger stock fell even more and my position was ITM, but I did not panic because my conviction was strong. And even if was wrong. I would get assigned and own shares of s company I didn't mind holding. 7 is not the price I would buy at but don't mind holding at.
And last night, tiger stock finally shot up. I knew this contract could have probably expired OTM but I don't like staying up at night. It's a harsh reality for Singaporeans trading in the US market, but we can't effectively watch their markets while also sustaining our regular lives. So I closed early, didn't bother fighting for price. And took home a decent profit. Next I might be looking at selling calls at the next hight for tiger.
$Tiger Brokers(TIGR)$ $Interactive Brokers(IBKR)$ $Futu Holdings Limited(FUTU)$
@TigerWire @CaptainTiger @TigerTradingNotes @Optionspuppy
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