EXPE Trade on Dec 17, 2020 12:01 from tradelikelarry: Tradervue User Stock Trades.

Trade Planning:

• Daily Chart: Uptrend, Consolidation below recent highs.
• TTM Squeeze: Daily
• Earnings Date: 2/3
• IV: 48%
• Potential Profit: $304
• Potential Loss: $496

Reason For Entry:

• Playing the Daily chart, Put Credit Spread. EXPE is in a pattern of consolidation below its ATH. TTM is in a squeeze on the daily and we are entering the PCS at the buy zone (21 EMA area). Our profit level is in line with the lower Bollinger Band and we are betting that price action either moves to new highs or maintains above our profit level by expiration.

Reason For Exit:

• Price action made a move out of its consolidation and to new highs. Closed the position for 74% of the premium received (+$230).

Recap:

• The setup was correct as price action was in a pattern of consolidation below its recent highs, we also had a TTM Squeeze on the daily (which indicates momentum is building). Our profit level was in line with the lower Bollinger Band and solid support area. We were betting that price action would make a move to new highs or continue to consolidate above our profit level by expiration. Price action made a move to new highs so we locked in the win for 74% of the premium received or +$230. Nice trade overall.