Shared by
tradelikelarry
Trade Planning:
- Daily Chart: Uptrend, Consolidation below recent highs.
- Potential Profit: $51
- Potential Loss: $699
Reason For Entry:
- Playing the Daily chart, Put Credit Spread. 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 trades. This was an earnings play and as price action pulled back after the earnings release, price action bounced as Omega Options Trading expected. This was a nice win overall.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2020-10-13 16:57:11 | 16 OCT 20 317.5 PUT | sell | $0.6500 | short |
| 2020-10-13 16:57:11 | 16 OCT 20 315 PUT | buy | $0.4800 | long |
| 2020-10-17 08:57:03 | 16 OCT 20 317.5 PUT | buy | $0.0000 | 0 |
| 2020-10-17 09:49:03 | 16 OCT 20 315 PUT | sell | $0.0000 | 0 |
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