Shared by
tradelikelarry
Trade Planning:
- Daily Chart: Uptrend, Consolidation below recent highs.
- Potential Profit: $100
- Potential Loss: $600
Reason For Entry:
- Playing the Daily chart, Put Credit Spread. This was a signal from Omega Options Trading. Price action pulled back to the 8 EMA and we took advantage of the pullback for an entry.
Reason For Exit:
- Price action stayed above our profit level and we collected 100% of the premium.
Recap:
-
Took advantage of the pullback as price action pulled back to the 8 EMA. Price action stayed above our profit level which was at the 21 EMA area and we collected 100% of the premium.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2020-10-20 11:55:39 | 23 OCT 20 507.5 PUT | sell | $2.370 | short |
| 2020-10-20 11:55:39 | 23 OCT 20 505 PUT | buy | $2.150 | long |
| 2020-10-20 16:38:53 | 23 OCT 20 507.5 PUT | sell | $2.790 | short |
| 2020-10-20 16:38:53 | 23 OCT 20 505 PUT | buy | $2.510 | long |
| 2020-10-20 16:38:53 | 23 OCT 20 507.5 PUT | sell | $2.790 | short |
| 2020-10-20 16:38:53 | 23 OCT 20 505 PUT | buy | $2.510 | long |
| 2020-10-24 12:28:36 | 23 OCT 20 507.5 PUT | buy | $0.0000 | 0 |
| 2020-10-24 13:08:15 | 23 OCT 20 505 PUT | sell | $0.0000 | 0 |
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