PLUG Trade on Feb 10, 2021 11:51 from tradelikelarry: Tradervue User Stock Trades.

Trade Planning:

• Daily Chart: Uptrend, Consolidation below ATH.
• TTM Squeeze: Daily
• Earnings Date: 3/4
• IV: 97%
• Potential Profit: $98
• Potential Loss: $902

Reason For Entry:

• Playing the Daily chart, Put Credit Spread. This was a signal from one of our members at the RocketSpreads discord. We have a pattern of consolidation below ATH and a TTM Squeeze on the daily which indicates a big move is coming. Our profit level (higher strike) is in line with the lower Bollinger Band (support area).

Reason For Exit:

• PLUG closed well above our profit level and expired worthless at expiration on 2/12. We then collected 100% of the premium received.

Recap:

• This was a signal from one of our members @magiehue in our discord @rocketspreads. We had a pattern of consolidation below ATH and a TTM Squeeze on the daily which indicates a big move is coming. Our profit level (higher strike) was in line with the lower Bollinger Band (solid support area). We were betting that price action would continue to consolidate above our profit level or make a move to new ATHs by expiration on 2/12. At expiration, price action held above our profit level and we then collected 100% of the premium. Awesome to see our members calling their own plays and profiting on the Credit Spread strategy.