Shared by
tradelikelarry
Trade Planning:
- Daily Chart: Uptrend, overextended.
- TTM Squeeze: None
- Earnings Date: 3/3
- IV: 150%
- Potential Profit: $181
- Potential Loss: $3020
Reason For Entry:
- Playing the Daily chart, Call Credit Spread. PLUG is way over extended and we are betting that price action will not extend over our profit levels ($77 and $87) by expiration on Friday.
Reason For Exit:
- Price action continued to hold below our profit levels at expiration on Friday. The Call Credit Spread expired worthless and we collected 100% of the premium.
Recap:
-
As PLUG was very extended on the daily chart, we signaled a Call Credit Spread (CCS) with profit levels at ($77 and $87). We were betting that price action would not exceed our profit levels by expiration on Friday. Price continued to hold below our profit levels at expiration on Friday and the CCS expired worthless as we collected 100% of the premium +$181.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2021-01-12 12:44:29 | 15 JAN 21 80 CALL | buy | $0.3800 | long |
| 2021-01-12 12:44:29 | 15 JAN 21 77 CALL | sell | $0.5300 | short |
| 2021-01-12 12:44:29 | 15 JAN 21 80 CALL | buy | $0.3800 | long |
| 2021-01-12 12:44:29 | 15 JAN 21 77 CALL | sell | $0.5300 | short |
| 2021-01-12 12:44:30 | 15 JAN 21 80 CALL | buy | $0.3800 | long |
| 2021-01-12 12:44:30 | 15 JAN 21 77 CALL | sell | $0.5300 | short |
| 2021-01-12 12:44:31 | 15 JAN 21 80 CALL | buy | $0.3800 | long |
| 2021-01-12 12:44:31 | 15 JAN 21 77 CALL | sell | $0.5300 | short |
| 2021-01-12 13:06:08 | 15 JAN 21 80 CALL | buy | $0.4500 | long |
| 2021-01-12 13:06:08 | 15 JAN 21 77 CALL | sell | $0.6400 | short |
| 2021-01-12 14:41:22 | 15 JAN 21 80 CALL | buy | $0.5200 | long |
| 2021-01-12 14:41:22 | 15 JAN 21 77 CALL | sell | $0.7200 | short |
| 2021-01-13 11:56:30 | 15 JAN 21 87 CALL | sell | $0.4800 | short |
| 2021-01-13 11:56:30 | 15 JAN 21 90 CALL | buy | $0.3200 | long |
| 2021-01-13 11:56:30 | 15 JAN 21 87 CALL | sell | $0.4900 | short |
| 2021-01-13 11:56:30 | 15 JAN 21 90 CALL | buy | $0.3300 | long |
| 2021-01-13 12:04:18 | 15 JAN 21 87 CALL | sell | $0.5500 | short |
| 2021-01-13 12:04:18 | 15 JAN 21 90 CALL | buy | $0.3700 | long |
| 2021-01-16 08:25:52 | 15 JAN 21 77 CALL | buy | $0.0000 | 0 |
| 2021-01-16 08:32:37 | 15 JAN 21 87 CALL | buy | $0.0000 | 0 |
| 2021-01-16 09:48:28 | 15 JAN 21 80 CALL | sell | $0.0000 | 0 |
| 2021-01-16 10:08:01 | 15 JAN 21 90 CALL | sell | $0.0000 | 0 |
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