AVGO Trade on Sep 3, 2020 16:13 from tradelikelarry: Tradervue User Stock Trades.

Trade Planning:

• Daily Chart: Uptrend, Consolidation below ATH.
• TTM Squeeze: None
• Earnings Date: 9/3
• IV: 101%
• Potential Profit: $99
• Potential Loss: $651

Reason For Entry:

• Playing the Daily chart, Put Credit Spread. This is a signal from @OmegaOptionsTrading. AVGO is in an uptrend and pulling back after making a new ATH. Earning will report after the close and the profit level is at a key support level at the 50 MA. We are betting that price action will close above $327.5 by expiration on Friday (1 trading day).

Reason For Exit:

• The Put Credit Spread expired worthless and we collected 100% of the premium.

Recap:

• This was a strong stock in an uptrend and below its ATH. The Put Credit Spread profit level was at a key support level below the 8 EMA and 20 MA. Held this position for 1 day as the spread expired worthless and we collected 100% of the premium at the close of the next day (Friday). Was a nice win overall with controlled risk.