Shared by
tradelikelarry
Trade Planning:
- Daily Chart: Uptrend, Consolidation below ATH.
- TTM Squeeze: none
- Earnings Date: N/A
- IV: 182%
- Potential Profit: $1212
- Potential Loss: $288
Reason For Entry:
- Playing the Daily chart, Put Credit Spread. NKLA is in a pattern of consolidation below its ATH. Main reason why I executed this Put Credit Spread is that there is a nice pattern and the premium on this vertical spread is ridiculous. Very nice risk to reward. Betting that NKLA closes above $60 by 8/21.
Reason For Exit:
- NKLA came out with news (offering). Price gapped down and I closed my position at the open for a small loss.
Recap:
- I wont be playing any more of these trades. I did not have a setup and this was basically a low capital risk GAMBLE. Will be focused going forward and excited to STICK TO THE PLAN.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2020-06-22 16:49:30 | 21 AUG 20 55 PUT | buy | $23.500 | long |
| 2020-06-22 16:49:30 | 21 AUG 20 60 PUT | sell | $27.630 | short |
| 2020-06-22 16:53:58 | 21 AUG 20 55 PUT | buy | $24.500 | long |
| 2020-06-22 16:53:58 | 21 AUG 20 60 PUT | sell | $28.510 | short |
| 2020-06-22 16:57:03 | 21 AUG 20 55 PUT | buy | $23.690 | long |
| 2020-06-22 16:57:03 | 21 AUG 20 60 PUT | sell | $27.690 | short |
| 2020-07-20 10:30:13 | 21 AUG 20 60 PUT | buy | $29.700 | 0 |
| 2020-07-20 10:30:13 | 21 AUG 20 55 PUT | sell | $25.050 | 0 |
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