With volume this high - see chart - and only in the first hour, there is heavy fear selling. Indicators show a bounce will come, so use less capital and hold through the turbulence. In the time it took me to write one line, 
DJI went up over 100 points! I say this to stress that your trade value will fluctuate in a volatile market, so manage your capital!
The white rectangles show when I noticed the stochastic warning of a drop in the market. The market still has room to correct down, based on my views of the weekly chart. I have linked last week's chart, which is bearish. Any calls I buy today are for short-lived relief rally trades.
DJI went up over 100 points! I say this to stress that your trade value will fluctuate in a volatile market, so manage your capital!The white rectangles show when I noticed the stochastic warning of a drop in the market. The market still has room to correct down, based on my views of the weekly chart. I have linked last week's chart, which is bearish. Any calls I buy today are for short-lived relief rally trades.
Trade closed manually
High IV and VIX raise option prices, and prices could hit 20ma and fall again. With fluctuation in option prices it is better in these counter-trend trades to take profits, in this case especially so because I was using weekly options. Bought weekly 340 calls for 3.10 and sold them for 3.80 and 4.30
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.