AMD Trade on Jun 8, 2020 10:45 from tradelikelarry: Tradervue User Stock Trades.

Trade Planning:

• Daily Chart: Uptrend, Consolidation below recent highs.
• TTM Squeeze: Daily
• Earnings Date: 7/28

Reason For Entry:

• Playing the daily chart, Put Credit Spread. AMD is in a pattern of consolidation below its recent highs. The TTM is in a squeeze and price is honoring the 50sma. This is a Put Credit Spread (PCS) and I am betting that AMD will close over the $52.5 level by expiration on 7/17. Risking 1% of portfolio in this trade.

Reason For Exit:

• AMD made a solid move to new highs and I closed the trade for a 50% win.

Recap:

• The setup was correct as price was consolidating below recent highs. I waited for price to enter the buy zone (between the 21ema and bottom Bollinger Band) and entered the Put Credit Spread risking 1% of my portfolio. The exit was correct as I had a goal set for a +50% profit which lined up nicely with new highs on the chart. Overall was a nice +50% win.