After the gaping down, the NASDAQ made a slow pattern of lower highs and lower lows, bottomed and began to make a nice rally, once that rally started to fail in the last hour of trading, I closed out my long position for a 30% gain and called it a week.
My original plan was to buy out of the money, with just enough delta to see some movement on large swings, like we've been seeing. It was not as effective as I had hopped. I am going to modify, by moving in towards the money, and closer to expiration.
Hopefully the increased delta, and decreased time value will even out, and make larger returns on short term movements.
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