Shared by
tradelikelarry
Trade Planning:
- Daily Chart: Uptrend, Consolidation below recent highs.
- Earnings Date: 11/13
- IV: %
- Potential Profit: #200
- Potential Loss: $1800
Reason For Entry:
- Playing the Daily chart, Put Credit Spread. This was a signal from @OmegaOptionsTrading. Earnings play and entered the PCS a day before earnings to take advantage of the higher premium. Betting that price action will stay above the $129 level by expiration (next day).
Reason For Exit:
- Price action stayed above our profit level and the PCS expired worthless as we collected 100% of the premium (+$200).
Recap:
-
This was a signal from @OmegaOptionsTrading. Earnings play and entered the PCS a day before earnings to take advantage of the higher premium. Betting that price action will stay above the $129 level by expiration (next day). Price action stayed above our profit level at expiration and we collected 100% of the premium. Nice trade overall.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2020-11-12 09:47:36 | 13 NOV 20 129 PUT | sell | $0.5800 | short |
| 2020-11-12 09:47:36 | 13 NOV 20 128 PUT | buy | $0.4900 | long |
| 2020-11-12 15:34:03 | 13 NOV 20 127 PUT | sell | $0.6900 | short |
| 2020-11-12 15:34:03 | 13 NOV 20 126 PUT | buy | $0.5800 | long |
| 2020-11-14 06:38:48 | 13 NOV 20 129 PUT | buy | $0.0000 | 0 |
| 2020-11-14 06:40:04 | 13 NOV 20 127 PUT | buy | $0.0000 | 0 |
| 2020-11-14 07:16:51 | 13 NOV 20 128 PUT | sell | $0.0000 | 0 |
| 2020-11-14 07:19:23 | 13 NOV 20 126 PUT | sell | $0.0000 | 0 |
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