LYV Trade on Jan 25, 2021 09:39 from tradelikelarry: Tradervue User Stock Trades.

Trade Planning:

• Daily Chart: Uptrend, Consolidation below ATH.
• TTM Squeeze: Daily
• Earnings Date: 2/25
• IV: 50%
• Potential Profit: $252
• Potential Loss: 507

Reason For Entry:

• Playing the Daily chart, Put Credit Spread. LVY is in a pattern of consolidation below its ATH. TTM is in a squeeze on the daily which indicates momentum is building. We are betting that price action continues to consolidate or move to ATH by expiration on 2/19.

Reason For Exit:

• Price action made a strong move higher following a pullback and we closed the position for a +63% win or +$156.

Recap:

• The patter was correct as price action was in a pattern of consolidation below its ATH. TTM was in a squeeze on the daily which indicates momentum is building. Price action flushed out as the market hit historic volatility. We stayed patient and held the position as we had plenty of time before expiration. A few days following the market sell off, price action made a move higher and we closed the position early for a 63% win or +$156.