Shared by
AofP2017
Tags:
Ascending Triangle
Bull Put
Maverick
Income Trade
Daily Setup:
The chart shows an ascending triangle breakout on the daily chart with an increase in volume. The weekly chart also shows a bull flag. The breakout occurred yesterday
Game Plan
Entered the credit spread for 20% of the spread. The plan is to close 1/2 of the spread for 50% of the spread if it occurs by Tuesday to eliminate exposure. If the target of 50% isn't obtained before Tuesday, then the whole position will be closed at 80%.
Stop:
132 level - Last pivot low.
Target:
Anywhere above 132.
Reason to exit:
Mistakes &/Or Concerns
Execution detail:
| Date/time | Symbol | Qty | Price | Position |
|---|---|---|---|---|
| 2019-07-19 11:28:02 | AUG02 19 130 PUT | 6 | $0.2500 | 6 |
| 2019-07-19 11:28:02 | AUG02 19 132 PUT | -6 | $0.6500 | -6 |
| 2019-08-02 16:20:00 | AUG02 19 130 PUT | -6 | $0.0000 | 0 |
| 2019-08-02 16:20:00 | AUG02 19 132 PUT | 6 | $0.0000 | 0 |
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