AMD Trade on Jun 11, 2020 13:45 from tradelikelarry: Tradervue User Stock Trades.

Trade Planning:

• Daily Chart: Uptrend, Consolidation below recent highs.
• TTM Squeeze: Daily
• Earnings Date: 7/28
• IV: 53%
• Potential Profit: $232
• Potential Loss: $268

Reason For Entry:

• Playing the daily chart, Put Credit Spread. AMD is in a pattern of consolidation below recent highs. TTM is in a squeeze and I executed a PCS risking 1% of portfolio. Watching for AMD to continue to new highs.

Reason For Exit:

• On expiration day, price action consolidated around the higher strike of the PCS. I closed the trade in the morning for a nice 71% win.

Recap:

• The entry was correct as price action pulled back to the buy zone and I executed a Put Credit Spread risking 1% of my portfolio. I held the position up to the expiration day, and closed as price action was consolidating around the higher strike of the PCS. Closed the trade in the morning for a nice +71% win. I could have held the position longer and tried for a bigger profit, but the market has been very choppy lately and I am taking advantage of profits when I can.