Stock Du Jour, Fri. May 8, 2020, PTGX

Added on by C. Maoxian.

Protagonist Therapeutics (PTGX) was the stock du jour, doing 159,000 trades and $525MM in volume. It was a latecomer, meaning I didn’t notice it immediately and only added it to the Bookmap at 10AM, so the tape is shorter than usual. PTGX was easy-to-borrow, but I did play it short at IB, and was looking for a big fade from my entry at $15, but it only dropped to $13 then came back and I closed it end of day around $14.

Other in-play stocks were MRAM (really jerked me around, shorted it, got jammed out, re-shorted it, got re-jammed out, ugly. Worst part was borrow at IB was iffy so I shorted it at the bookie as well, then got fills at IB, so I lost a lot with both brookie and broker, double what I expected to lose, in a sense) … FTEK (missed my entry), VUZI (did short it but they held it up all day and I took a loss), CWH (did short it, but it too came back, took a loss).

A day of net losses for sure, no tilt though, all planned losses, it’s just bad when you call tails and flip heads five times in a row.