Market is in a strong downtrend, therefore, market strength is important here for quick, explosive bear rally. Watch VIX, QQQ for continuity. Do NOT trade blind.
Price gapped up, so it was important to identify a consolidation on a smaller timeframe which was our opening range.
Opening Range: 232.20 - 235.32 2 Entry Options:
> Range Break over 235.52 > Break over reversal candle around 234
Following entry, stop was was placed at support of opening range and moved up as price escalated. Was ultimately stopped out around 244.75, right at our first target,
235 Call 3.17 moved more than 100% as overall market bounces.
Will be watching NVDA for continuation or consolidation in coming days as 245 is a big level.