Episode · the market · Nov 5, 9:46 AM

NOW: 2026-11-05T14:46Z

WOKE FOR: MARKET (P1 opportunity)

OBSERVATIONS
- 14:46Z setup, P1, salience 88: VXX opening-range breakout (first 15 min): closed 18.25 above 18.14 on 6.9× its median minute volume today; opening range 17.37-18.14.
- 14:46Z setup, P1, salience 88: SNDQ opening-range breakout (first 15 min): closed 30.65 above 30.47 on 6.9× its median minute volume today; opening range 28.52-30.47.
- 14:46Z setup, P1, salience 87: UVXY opening-range breakout (first 15 min): closed 17.8 above 17.7 on 4.9× its median minute volume today; opening range 16.6-17.7.
- 14:46Z setup, P1, salience 87: TZA opening-range breakout (first 15 min): closed 45.775 above 45.59 on 6.2× its median minute volume today; opening range 44.25-45.59.
- 14:46Z setup, P1, salience 86: STE opening-range breakout (first 15 min): closed 254.91 above 254.34 on 15.8× its median minute volume today; opening range 251.69-254.34.

YOUR BOOK (the paper account: your decisions trade it; started with $10,000)
cash $9896.37 · equity $9896.37 (-1.04%) · today +0% · 0 stocks, 0 options positions
- no stock positions

LIMITS (enforced by code)
- Market: the regular session. New buys: allowed.
- Your envelope: 3/4 entries in 24 h, 0/2 in the last hour, 0/4 open; $990 more can be committed this hour; an entry is 50% of what the risk checks allow; one action per ticker per 30 min; no re-entry for 24 h after a stop-out or 6 h after an exit.
- Risk checks: at most 25% of equity per position ($2474.09); 0/8 positions; conviction ≥ 6/10 (≥ 8 for an overnight buy in the closing window, and none intraday then); price ≥ $5; stop 0.4-10% below the price (default 2.5%); reward:risk ≥ 1.2; no rebuy within 15 min of a sale; $9698.44 deployable cash.
- Options: open premium $0 of the 25% of equity cap ($2474); at most 4% of equity per position; 0/6 positions; conviction ≥ 7; long calls and puts, call and put debit spreads; buy |delta| 0.25-0.7, 7-45 days to expiration; contracts only from an option_menu result in this episode; exits default to -60% / +150% of the position's value, and code closes positions before expiration.
- Intraday stock positions are closed by code in the last minutes of the session; stops and targets rest at the broker as bracket or OCO orders.

MARKET
- SPY 756.325 (+0.08%), QQQ 670.69 (-2.87%), IWM 281.36, DIA 531.12, VIXY 17.465, TLT 81.7

SUBJECT VXX
- 18.25; technicals: use the tools
- news: nothing in our feeds about it in the last 24 h

SUBJECT SNDQ
- 30.65; technicals: use the tools
- news in our feeds, last 24 h, most severe first:
<untrusted source="wire">
e628c2d916f7 [Nov 5, 9:45 AM ET | T1 movers | price shock | sev 52 | +0.6% since] SNDQ +24.2% today at $30.53 (top gainer)
</untrusted>

SUBJECT UVXY
- 17.8; technicals: use the tools
- news: nothing in our feeds about it in the last 24 h

SUBJECT TZA
- 45.775; technicals: use the tools
- news: nothing in our feeds about it in the last 24 h

SUBJECT STE
- 254.91; technicals: use the tools
- news in our feeds, last 24 h, most severe first:
<untrusted source="wire">
9a3855ef0c24 [Nov 4, 4:39 PM ET | T1 sec.gov | earnings | sev 60] STE 8-K: 2.02 Results of Operations and Financial Condition; 2.05 Cost Associated with Exit or Disposal Activities (https://www.sec.gov/Archives/edgar/data/1757898/000162828026070220/0001628280-26-070220-index.htm)
</untrusted>

YOUR NOTES
- [MARKET, 2026-11-04T21:10Z] Market closed higher (SPY +1.48%). No positions held. Ready for tomorrow's open to look for setups.
- [MARKET, 2026-11-04T20:40Z] Closing window (20:40Z). All intraday positions (BUG, SNX) will be closed by code. No new entries permitted by envelope (3/4 in 24h, 0/2 in last hour, but closing window rules and prior fullness apply). No new entries.
- [MARKET, 2026-11-04T16:19Z] Closing window (16:18Z). All intraday positions will be closed by code. No new entries permitted by envelope (4/4 in 24h).
- [MARKET, 2026-11-03T16:53Z] Closing window. All setups are opening-range breakouts with no fundamental catalysts. No new entries. Positions closed by code if any existed (none held).
- [MARKET, 2026-11-03T16:28Z] Closing window (16:28Z). All setups are opening-range breakouts occurring after 16:15Z with no fundamental catalysts (CAH, PODD, HYMB, EGP, CAG, ED) or only minor anomalies (CR, CTAS). Conviction is low due to lack of news and the closing window environment. No new entries. Positions will be closed by code if any existed (none held).

YOUR WATCHES
none

{
  "decisions": [
    {
      "symbol": "STE",
      "action": "buy",
      "allocation_pct": 10,
      "sell_pct": 100,
      "stop_loss": 248,
      "take_profit": 265,
      "horizon": "intraday",
      "setup": "breakout",
      "conviction": 7,
      "rationale": "STE is breaking out to a new 20-day high on massive volume (15.8x median) following a confirmed SEC filing (8-K). Price is above VWAP and all key moving averages. RSI is high (75.6) but the volume and fundamental catalyst support the move. Stop placed below the 5-min VWAP and recent support.",
      "evidence": [
        "Price 254.91, above 20-day high of 254.34.",
        "Volume 15.8x median.",
        "SEC 8-K filing on Nov 4.",
        "Price above SMA20 (228.12), SMA50 (220.18), SMA200 (224.28)."
      ],
      "invalidation": "A drop below the 5-min VWAP (252.97) or a rejection of the new high with heavy volume.",
      "structure_id": null,
      "option": null
    },
    {
      "symbol": "SNDQ",
      "action": "buy",
      "allocation_pct": 10,
      "sell_pct": 100,
      "stop_loss": 29,
      "take_profit": 32.5,
      "horizon": "intraday",
      "setup": "breakout",
      "conviction": 6,
      "rationale": "SNDQ is up 24% on massive volume (6.9x median) with a T1 price shock news item. However, RSI is extremely high (73.6) and the stock is already up significantly. This is a high-risk momentum trade. I am sizing conservatively due to the extended RSI and lack of fundamental detail beyond the price shock.",
      "evidence": [
        "Price 30.65, up 24.2% today.",
        "Volume 6.9x median.",
        "T1 news: Price shock +24.2%.",
        "RSI 73.6 (overbought)."
      ],
      "invalidation": "A drop below the opening range low of 28.52 or a rejection of the 30.47 breakout level.",
      "structure_id": null,
      "option": null
    }
  ],
  "watches": [],
  "cancel_watches": [],
  "notes": [
    {
      "subject": "STE",
      "text": "Bought breakout on SEC filing news. High volume. Stop at 248."
    },
    {
      "subject": "SNDQ",
      "text": "Bought momentum breakout on price shock news. High RSI. Stop at 29."
    },
    {
      "subject": "VXX",
      "text": "Watched. VXX broke out but no news. Lower conviction than STE/SNDQ due to lack of catalyst."
    },
    {
      "subject": "UVXY",
      "text": "Watched. UVXY broke out but no news. Lower conviction."
    },
    {
      "subject": "TZA",
      "text": "Watched. TZA broke out but no news. Lower conviction."
    }
  ],
  "reply": "Entered STE (breakout on SEC filing, high volume) and SNDQ (momentum breakout on price shock news). VXX, UVXY, and TZA also broke out but lacked fundamental catalysts, so I passed on them. Both positions are intraday with stops set."
}