Shared by
tradelikelarry
Trade Planning:
- Daily Chart: Uptrend, Consolidation below recent highs.
- Potential Profit: $110
- Potential Loss: $1140
Reason For Entry:
- Playing the Daily chart, Put Credit Spread. Entered the trade at a support level leading up to an earnings date. Nice risk to reward as the profit level was about $12 below current price action (At a key solid support level).
Reason For Exit:
- Price action held above our profit level and the PCS expired worthless as we collected 100% of the premium.
Recap:
-
Nice entry area and our risk was defined with the Put Credit Spread position. This was an earnings play and worked out well as price action held above our target level at expiration.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2020-10-27 16:10:42 | 30 OCT 20 200 PUT | sell | $0.6900 | short |
| 2020-10-27 16:10:42 | 30 OCT 20 197.5 PUT | buy | $0.4700 | long |
| 2020-10-31 08:25:46 | 30 OCT 20 200 PUT | buy | $0.0000 | 0 |
| 2020-10-31 09:17:45 | 30 OCT 20 197.5 PUT | sell | $0.0000 | 0 |
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