Episode · LYEL · Nov 4, 11:18 AM

NOW: 2026-11-04T16:18Z

WOKE FOR: LYEL (P2 review)

OBSERVATIONS
- 16:18Z price, P2, salience 61: LYEL, which you hold, moved 3.15% since your last review at 15.87; stop 14.27.

YOUR BOOK (the paper account: your decisions trade it; started with $10,000)
cash $8857.34 · equity $9892.38 (-1.08%) · today -0.08% · 3 stocks, 0 options positions
- BUG: 10 shares at 47.15, now 46.455 (-1.46%), stop 45.85, target 50.5, intraday horizon, opened 9:54 AM ET. Thesis: BUG shows the cleanest technical breakout: price 47.385 closed above OR high 46.74 on 8.1× median volume. Daily trend is constructive (SMA50 > SMA20, price above SMA200), RSI 48.1 is neutral, and ATR 1.99 allows a tight stop. No negative news; the move is volume-driven. Intraday horizon with stop at 45.85 (-3.2%) and target at 50.50 (+7.1%) gives >2:1 R:R. Invalidation: Price closes below VWAP 47.01 or breaks below 46.00 (OR low).
- LYEL: 7 shares at 15.87, now 16.37 (3.15%), stop 14.27, target 18.5, intraday horizon, opened 10:56 AM ET. Thesis: LYEL has a clear fundamental catalyst: an $80M private placement (T1 SEC filing, T2 Seeking Alpha) driving a +29% pre-market move. The stock gapped up from 13.94 to 14.50 and is now trading at 15.86, showing strong follow-through on 2.3x median volume. The setup is a gap-and-go with high conviction due to the cash infusion and lack of immediate dilution beyond the placement. Intraday horizon with a stop below the gap fill/low (13.50) and a target at 18.50 (+16.6%) offers good R:R. The move is supported by volume and news. Invalidation: Price closes below VWAP 14.80 or breaks below 14.00 (OR low).
- SNX: 2 shares at 230.18, now 227.925 (-0.98%), stop 222, target 245, intraday horizon, opened 9:54 AM ET. Thesis: SNX broke its 15-min OR high 228.91 on massive 15.2× volume, signaling strong institutional interest. Price 229.49 is above VWAP 228.71. However, daily trend is weak (below SMA20/50, RSI 35.1), making this a reversal play. Stop at 222.00 (-3.2%) and target at 245.00 (+6.7%) offer >2:1 R:R. High volume suggests follow-through, but weak daily trend limits conviction. Invalidation: Price closes below 225.12 (OR low) or VWAP 228.71.

LIMITS (enforced by code)
- Market: the regular session. New buys: blocked by your envelope (4/4 in the last 24 h).
- Your envelope: 4/4 entries in 24 h, 1/2 in the last hour, 3/4 open; $878 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 ($2473.09); 3/8 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; $8659.49 deployable cash.
- Options: open premium $0 of the 25% of equity cap ($2473); 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 765.86 (+1.34%), QQQ 693.12 (+0.37%), IWM 282.65, DIA 530.495, VIXY 16.69, TLT 81.38

SUBJECT LYEL
- 16.37 (bid 15.91, ask 17.15), +52.14% today; technicals: use the tools
- news in our feeds, last 24 h, most severe first:
<untrusted source="wire">
7d495f502f45 [Nov 4, 10:56 AM ET | T2 finnhub.io | offering | sev 75 | +3.3% since] Lyell Immunopharma Announces ~$80M Private Placement Of 7.4M Shares At $10.77/Share (https://finnhub.io/api/news?id=db5325e590d60d14c58c2623cd1e1495e41eca1cc008459b19a39ab1a83b29ba)
98d0f5021643 [Nov 4, 9:05 AM ET | T1 sec.gov | offering | sev 65] LYEL 8-K: 3.02 Unregistered Sales of Equity Securities (https://www.sec.gov/Archives/edgar/data/1806952/000119312526446317/0001193125-26-446317-index.htm)
6e19bd63baa6 [Nov 4, 9:51 AM ET | T2 seekingalpha.com | offering | sev 63] Lyell Immunopharma raises $80M in private placement; shares up 35% (https://seekingalpha.com/news/4664820-lyell-immunopharma-raises-80m-in-private-placement-shares-up-35?feed_item_type=news)
</untrusted>

YOUR NOTES
- [LYEL, 2026-11-04T15:56Z] Bought on private placement catalyst. Monitor for follow-through. Stop at 13.50.
- [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).
- [MARKET, 2026-11-03T16:23Z] Closing window. Most setups lack fundamental catalysts. No new entries.
- [MARKET, 2026-11-03T16:18Z] Multiple opening-range breakouts detected in the closing window (16:14-16:18Z). FICO, PGX, SRLN, XLF, DIA, LQDA, PKG, RBC, GL, IWN, QYLD, TYL, PFG, SWKS, AEE, NBIX, JBHT, BKLN, AVAV, VCLT, SIG, ITT, KYMR, CMS. Most are ETFs or low-float names with no specific news catalysts other than volume anomalies. The market is in the closing window; new intraday buys are generally discouraged unless conviction is very high and the setup is clean. Given the lack of fundamental catalysts for most of these br
- [MARKET, 2026-11-03T14:30Z] Inside opening buffer until 14:40Z. No new buys allowed. Will scan for opening-range breakouts and new highs on heavy volume after the buffer clears.

YOUR WATCHES
none

{
  "decisions": [
    {
      "symbol": "BUG",
      "action": "hold",
      "allocation_pct": null,
      "sell_pct": null,
      "stop_loss": null,
      "take_profit": null,
      "horizon": "intraday",
      "setup": "breakout",
      "conviction": 6,
      "rationale": "Price 46.455 is below target 50.50 and above stop 45.85. Session is closing; intraday positions will be closed by code. No adjustment needed.",
      "evidence": [
        "BUG at 46.455 (-1.46%), stop 45.85, target 50.50."
      ],
      "invalidation": "Closes below 45.85.",
      "structure_id": null,
      "option": null
    },
    {
      "symbol": "LYEL",
      "action": "hold",
      "allocation_pct": null,
      "sell_pct": null,
      "stop_loss": null,
      "take_profit": null,
      "horizon": "intraday",
      "setup": "gap_and_go",
      "conviction": 7,
      "rationale": "Price 16.37 is below target 18.50 and above stop 14.27. Private placement catalyst remains valid. Closing window; code will close intraday position.",
      "evidence": [
        "LYEL at 16.37 (+3.15%), stop 14.27, target 18.50."
      ],
      "invalidation": "Closes below 14.27.",
      "structure_id": null,
      "option": null
    },
    {
      "symbol": "SNX",
      "action": "hold",
      "allocation_pct": null,
      "sell_pct": null,
      "stop_loss": null,
      "take_profit": null,
      "horizon": "intraday",
      "setup": "breakout",
      "conviction": 6,
      "rationale": "Price 227.925 is below target 245.00 and above stop 222.00. Weak daily trend limits follow-through, but no stop hit. Closing window; code will close intraday position.",
      "evidence": [
        "SNX at 227.925 (-0.98%), stop 222.00, target 245.00."
      ],
      "invalidation": "Closes below 222.00.",
      "structure_id": null,
      "option": null
    }
  ],
  "watches": [],
  "cancel_watches": [],
  "notes": [
    {
      "subject": "MARKET",
      "text": "Closing window (16:18Z). All intraday positions will be closed by code. No new entries permitted by envelope (4/4 in 24h)."
    }
  ],
  "reply": "Market is in the closing window; intraday positions will be closed by code. No new entries permitted by envelope. All three positions held as is."
}