Shared by
tradelikelarry
Trade Planning:
- Daily Chart: Uptrend, Consolidation below recent highs.
- TTM Squeeze: Daily
- Potential Profit: $75
- Potential Loss: $705
Reason For Entry:
- Playing the Daily chart, Put Credit Spread. This was a signal from Omega Options Trading. Price action pulled back and we took advantage of the opportunity. The Profit Level was well below the lower BB which makes this trade high probable.
Reason For Exit:
- Price action held above our profit target and the PCS expired worthless as I collected 100% of the premium.
Recap:
-
Omega Options Trading signals are high probable, you can see the price action never got anywhere below our profit level on this PCS. This was a nice win overall.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2020-10-12 13:11:35 | 16 OCT 20 435 PUT | sell | $1.450 | short |
| 2020-10-12 13:11:35 | 16 OCT 20 432.5 PUT | buy | $1.300 | long |
| 2020-10-12 13:11:35 | 16 OCT 20 435 PUT | sell | $1.450 | short |
| 2020-10-12 13:11:35 | 16 OCT 20 432.5 PUT | buy | $1.300 | long |
| 2020-10-17 07:31:17 | 16 OCT 20 435 PUT | buy | $0.0000 | 0 |
| 2020-10-17 10:03:49 | 16 OCT 20 432.5 PUT | sell | $0.0000 | 0 |
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