WKHS Trade on Oct 13, 2020 12:29 from tradelikelarry: Tradervue User Stock Trades.

Trade Planning:

• Daily Chart: Uptrend, Consolidation below recent highs.
• TTM Squeeze: Daily
• Earnings Date: 11/9
• IV: 160%
• Potential Profit: $54
• Potential Loss: $195

Reason For Entry:

• Playing the Daily chart, Put Credit Spread. WKHS is in a pattern of consolidation below its ATH. Price action pulled back to the buy zone (between the 21 EMA and lower BB). The PCS profit level is in line with the lower BB and 50 MA.

Reason For Exit:

• Price action held above our profit target and the PCS expired worthless as I collected 100% of the premium.

Recap:

• The setup was correct as price action pulled back to the buy zone (between the 21 EMA and lower BB). The specific PCS target level was in line with the lower BB and 50 MA. I held the PCS for 5 days until the it expired worthless and I collected 100% of the premium. Nice trade overall.