SPY Trade on Dec 21, 2020 10:18 from tradelikelarry: Tradervue User Stock Trades.

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tradelikelarry

 

Trade Planning:

  • Daily Chart: Uptrend, Consolidation below ATH.
  • Potential Profit: $124
  • Potential Loss: $3250

Reason For Entry:

  • Playing the Daily chart, Put Credit Spread. This signal is a day trade Put Credit Spread. We are taking advantage of the pull back to the 21 EMA (light blue MA) and are betting that price action will maintain above the $355 level by the end of the trading day. Price action worked its way back over the 21 EMA and is approaching the 8 EMA, we are adding another PCS with a profit level at $359. Overall, the market looks strong as it has recovered from this mornings pullback and we feel confident that price action will maintain above our profit levels.

Reason For Exit:

  • At the end of the day price action maintained above our profit levels and the PCS expired worthless and we collected 100% of the premium.

Recap:

  • This signal was a day trade Put Credit Spread. We took advantage of the early morning pull back as price action approached the 21 EMA (light blue MA) and set a profit level at ($355). Price action recovered over the next hour and approached the 8 EMA, we then opened another PCS with a profit level at ($359). By the end of the day price action maintained above both our profit levels and our PCS's expired worthless as we collected 100% of the premium. Nice day trade overall. image

Execution detail:

Date/time Symbol Side Price Position
2020-12-21 10:18:03 21 DEC 20 355 PUT sell $0.1400 short
2020-12-21 10:18:03 21 DEC 20 352 PUT buy $0.0700 long
2020-12-21 10:18:21 21 DEC 20 355 PUT sell $0.1600 short
2020-12-21 10:18:21 21 DEC 20 352 PUT buy $0.0700 long
2020-12-21 10:18:21 21 DEC 20 355 PUT sell $0.1600 short
2020-12-21 10:18:21 21 DEC 20 352 PUT buy $0.0700 long
2020-12-21 11:32:48 21 DEC 20 359 PUT sell $0.0800 short
2020-12-21 11:32:48 21 DEC 20 354 PUT buy $0.0200 long
2020-12-21 11:33:10 21 DEC 20 359 PUT sell $0.0900 short
2020-12-21 11:33:10 21 DEC 20 354 PUT buy $0.0200 long
2020-12-21 11:33:38 21 DEC 20 359 PUT sell $0.0900 short
2020-12-21 11:33:38 21 DEC 20 354 PUT buy $0.0200 long
2020-12-22 01:00:00 21 DEC 20 355 PUT buy $0.0000 0
2020-12-22 01:00:00 21 DEC 20 359 PUT buy $0.0000 0
2020-12-22 01:00:00 21 DEC 20 352 PUT sell $0.0000 0
2020-12-22 01:00:00 21 DEC 20 354 PUT sell $0.0000 0


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