SHOP Trade on Sep 14, 2020 15:45 from tradelikelarry: Tradervue User Stock Trades.

Trade Planning:

• Daily Chart: Uptrend, Consolidation below recent highs.
• TTM Squeeze: N/A
• Earnings Date: n/a
• IV: 55%
• Potential Profit: $70
• Potential Loss: $930

Reason For Entry:

• Playing the Daily chart, Put Credit Spread. This is a signal from Omega Options Trading. Price action has been honoring the $900 level and our profit level is well below the lower Bollinger Band. IV is above 55%. Betting that price action will stay above $850 by expiration on Friday.

Reason For Exit:

• Price action closed above the $850 profit level and the PCS expired worthless and I collected 100% of the premium.

Recap:

• The setup was correct as price action had been honoring a specific support level ($900). Opened the PCS with a profit level well below current price action. Price action closed above the $850 profit level and the PCS expired worthless and I collected 100% of the premium.