We started in red delta and we started in negative gamma territory. I waited for five minutes, and it climbed to 6600 almost before rejecting with a big red candle. I decided to sell calls using SD3 from VWAP which is the dark green at the top which is 6636. I opened two call credit spreads at 6640/6645 for $0.65. Looking to close these at $0.10 if we are below vwap. If price goes back above vwap, I’ll aim to sell at 50% if i can. If it breaks past 6620 I’ll close these at a loss.
Was able to close these at $0.10. Price dropped to 6535 by 8 AM PST.