SRE Exit

I exited before the PPI report tomorrow and ex-dividend on march 19.

Setting a stop loss limit order came in clutch. Initially, the stop loss was $1.95 per contract. I decided to move this today as I decided to exit before the PPI report tomorrow. It was the first time I set an automated limit order, and it was a funny feeling logging on to the platform and finding out the contract was done haha. So, my limit order was $3.00 and again, my bought in price was $2.33 so I took a 31% profit, and I ain't mad about it.

Let's quickly look at today's performance:

SRE opened high today and remained above that $95 new support established yesterday. This was great news for me, SRE reached almost $97 in the first opening minutes of the day. Now, I didn't take profit then because I didn't want to rush it, and I've been avoiding trading in the first 30-60 minutes of the day. Of course, we saw that SRE went back down and while it remained above the support, I wasn't expecting it to break $97

RSI is at a healthy 49.84, which allows for a major run for SRE, however, the PPI report is tomorrow and if the report shows higher than 0.5% for february, then we can expect a good drop in price action. In addition, the ex-dividend will be in two days, which means that many investors will be exiting tomorrow before it happens.

Here's what I think, the next two days may cause the price of SRE to drop. but I believe the recovery for SRE is not too far. SRE might reach $100 in the next week and a half, but I'm out of the contract so it matters not. While I will be tracking it for fun, it won't have an impact in my pockets.

I genuinely enjoyed this trade. It felt informative, not slow in volatility, it was the right amount. Setting up a stop loss definitely eased my mind at all times, and moving that limit order today to $3.00 definitely gave me more confidence. This may have been one of my favorites (I've only done like 3 informed this year). I can't wait to apply my approach to this while also keeping in mind important dates like PPIs and dividend dates.

Overall 7/10 contract.