NVDA Trade on Aug 19, 2020 14:31 from tradelikelarry: Tradervue User Stock Trades.

Trade Planning:

• Daily Chart: Uptrend, Consolidation below ATH.
• TTM Squeeze: N/A
• Earnings Date: 8/19
• IV: 96%
• Potential Profit: $44
• Potential Loss: $456

Reason For Entry:

• Playing the Daily chart, Put Credit Spread. This is a trade signaled from Omega Options Trading. Nice risk to reward on a chart prospective. The break even level is right below the 20 MA (historically a strong support level). Earnings will be released after the close and we are betting that price action will close over $442.5 by expiration on Friday.

Reason For Exit:

• NVDA closed well over the profit level and expired worthless. I was able to collect 100% of the premium for a nice small win.

Recap:

• The Put Credit Spread setup was correct as the profit level was at a key support level (20 MA). Price action increased well above the profit level and expired worthless by Friday. I was then able to collect 100% of the premium. Nice small win overall.