SPWR Trade on Nov 16, 2020 14:00 from tradelikelarry: Tradervue User Stock Trades.

Trade Planning:

• Daily Chart: Uptrend, Consolidation below recent highs.
• TTM Squeeze: None
• Earnings Date: 1/27

Reason For Entry:

• Playing the Daily chart, Put Credit Spread. Price action is in a pattern of consolidation below recent highs. I entered the PCS at the buy zone (8EMA area) and the profit level is below the entry at a key support area (previous resistance).

Reason For Exit:

• Price action increased after the entry and maintained above the profit level. The PCS expired worthless and I collected 100% of the premium

Recap:

• The setup was correct as price action was in a pattern of consolidation below recent highs. The entry was also correct as I opened the PCS at the buy zone (8 EMA area). I held the position through expiration as price action maintained above the profit level. I ended up collecting 100% of the premium as the PCS expired worthless.