EXPE Trade on Dec 7, 2020 10:53 from tradelikelarry: Tradervue User Stock Trades.

Trade Planning:

• Daily Chart: Uptrend, Consolidation below recent highs.
• TTM Squeeze: Daily
• Earnings Date: Feb
• IV: 58%%
• Potential Profit: $129
• Potential Loss: $371

Reason For Entry:

• Playing the Daily chart, Put Credit Spread. EXPE is in a pattern of consolidation below recent highs. We also have a TTM Squeeze on the daily which indicates momentum is building. Our entry is at a consolidation area the 8 EMA area and our profit level is in line with a solid support area that price action tested a couple weeks back. We are betting that price action will maintain over our profit level ($120) by expiration on 12/18.

Reason For Exit:

• Price action continued to consolidate and honored the 21 EMA (which is above our profit level) all the way to the expiration date. The PCS expired worthless and we collected 100% of the premium.

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 ($120) was in line with a solid support area that price action had tested a couple weeks back. Following our entry, price action continued to consolidate all the way up to the expiration date as the PCS expired worthless and we collected 100% of the premium (+$129). Overall was a nice trade.