Shared by
tradelikelarry
Trade Planning:
- Daily Chart: Uptrend, Consolidation below ATH.
- TTM Squeeze: None
- Earnings Date: 9/10
- IV: 205%
- Potential Profit: $18
- Potential Loss: $132
Reason For Entry:
- Playing the Daily chart, Put Credit Spread. Entered the trade at the EOD and our profit level was 16% below the initial entry. Risking less than 1% of portfolio.
Reason For Exit:
- Price action closed above our Target level at expiration and collected 100% of the premium.
Recap:
-
Entry was correct as we executed the PCS at the EOD as earnings were going to be released after the close. Profit level was 16% below our initial entry. Price action flushed out the next day after earnings but held nicely above our profit level. The PCS expired worthless and collected 100% of the premium. Nice small win on this high probable trade.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2020-09-10 13:44:52 | 11 SEP 20 52 PUT | sell | $0.3800 | short |
| 2020-09-10 13:44:52 | 11 SEP 20 51.5 PUT | buy | $0.3200 | long |
| 2020-09-10 16:43:12 | 11 SEP 20 52 PUT | sell | $0.3800 | short |
| 2020-09-10 16:43:12 | 11 SEP 20 51.5 PUT | buy | $0.3200 | long |
| 2020-09-12 07:38:07 | 11 SEP 20 52 PUT | buy | $0.0000 | 0 |
| 2020-09-12 08:09:29 | 11 SEP 20 51.5 PUT | sell | $0.0000 | 0 |
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