SHOP Trade on Aug 10, 2020 15:32 from tradelikelarry: Tradervue User Stock Trades.

Trade Planning:

• Daily Chart: Uptrend, Consolidation below recent highs.
• TTM Squeeze: Daily
• Earnings Date: 10/29
• IV: 55.28%
• Potential Profit: $125
• Potential Loss: $875

Reason For Entry:

• Playing the Daily chart, Put Credit Spread. This spread play comes from Omega Options Signals, I like the support area that was chosen at (940/935) which is in the area of the 50 MA (well below current price action). Nice risk to reward in terms of price action to stop out area. The spread expires this Friday, so we are betting that Price Action closes above $940 by expiration. 8/11 - added to my position as SHOP pulled back and buyer brought it back over the 20 MA.

Reason For Exit:

• SHOP expired worthless and I collected 100% of the premium (+$125).

Recap:

• This spread play came from Omega Options Signals, I like the support area that was chosen at (940/935) which is in the area of the 50 MA (well below current price action). Nice risk to reward in terms of price action to stop out area. SHOP expired worthless and I collected 100% of the premium (+$125).