Shared by
tradelikelarry
Trade Planning:
- Daily Chart: Uptrend, Consolidation below recent highs.
- Potential Profit: $65
- Potential Loss: $185
Reason For Entry:
- Playing the Daily chart, Put Credit Spread. Price action is in a pattern of consolidation below its ATH. Price action pulled back to the buy zone which is between the 21 EMA and lower BB. The profit level is in line with the lower BB. Nice risk to reward on this trade.
Reason For Exit:
- Price action stayed above our profit level on the PCS and I collected 100% of the premium.
Recap:
-
Price action is in a pattern of consolidation below its ATH. Price action pulled back to the buy zone which is between the 21 EMA and lower BB. The profit level is in line with the lower BB. At the expiration day, price action stayed above our profit level and I collected 100% of the premium. Nice trade overall.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2020-10-16 15:05:50 | 23 OCT 20 95 PUT | sell | $1.270 | short |
| 2020-10-16 15:05:50 | 23 OCT 20 94.5 PUT | buy | $1.140 | long |
| 2020-10-16 15:05:50 | 23 OCT 20 95 PUT | sell | $1.270 | short |
| 2020-10-16 15:05:50 | 23 OCT 20 94.5 PUT | buy | $1.140 | long |
| 2020-10-16 15:05:50 | 23 OCT 20 95 PUT | sell | $1.270 | short |
| 2020-10-16 15:05:50 | 23 OCT 20 94.5 PUT | buy | $1.140 | long |
| 2020-10-24 12:24:50 | 23 OCT 20 95 PUT | buy | $0.0000 | 0 |
| 2020-10-24 12:51:22 | 23 OCT 20 94.5 PUT | sell | $0.0000 | 0 |
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