COST Trade on Dec 7, 2020 12:28 from tradelikelarry: Tradervue User Stock Trades.

Trade Planning:

• Daily Chart: Uptrend, Consolidation below recent highs.
• Earnings Date: 12/10

Reason For Entry:

• Playing the Daily chart, Put Credit Spread. This was a signal from @omegaoptionstrading. Earnings are scheduled to be released on 12/10 and we entered the trade just above the recent support area (21 ema). Our profit level is well below current price action at a key support level. We are betting that price action will stay above $355 post earnings.

Reason For Exit:

• Earnings were released and price action stayed flat. We held the Put Credit Spread until expiration on Friday and collected 100% of the premium.

Recap:

• This was a signal from @OmegaOptionsTrading. Earnings were scheduled to be released a couple days after our entry. The entry was at a key support area (21 EMA or light blue moving average) and the profit level was well below current price action. We were betting that price action would hold above the $355 level post earnings. Price action stayed pretty much flat after earnings were released (this is a good thing for Credit Spreads). We held the position until expiration on Friday and collected 100% of the premium. Nice trade overall.