Shared by
tradelikelarry
Trade Planning:
- Daily Chart: Uptrend, Consolidation below recent ATH.
- TTM Squeeze: 195m
- Earnings Date: 6/3-
Reason For Entry:
- Playing the 195m chart. ZM is in a pattern of consolidation below its ATH. It has been holding a support area considering the choppy market as of late. ZM retraced back to my buy zone (between 21ema and lower BB) and filled Put Credit Spread with 5 contracts. Risking 1% of portfolio. Betting that ZM closes over $106 by the close of this Friday.
Reason For Exit:
- Price worked its way through the 78.6% fib zone and closed the trade for a 90% win.
Recap:
- Nice entry at the lower BB, TTM was in a squeeze on the 195m chart, momentum shifting positive. Defined my risk which would have had a minimum loss. Stayed patient with this PCS trade and closed the trade for a 90% win 1 day before expiration.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2020-03-16 16:52:48 | 20 MAR 20 105 PUT | buy | $4.750 | long |
| 2020-03-16 16:52:48 | 20 MAR 20 106 PUT | sell | $5.200 | short |
| 2020-03-16 16:55:59 | 20 MAR 20 105 PUT | buy | $4.760 | long |
| 2020-03-16 16:55:59 | 20 MAR 20 106 PUT | sell | $5.210 | short |
| 2020-03-19 10:36:55 | 20 MAR 20 105 PUT | sell | $0.1700 | long |
| 2020-03-19 10:36:55 | 20 MAR 20 106 PUT | buy | $0.2200 | short |
| 2020-03-19 11:31:11 | 20 MAR 20 105 PUT | sell | $0.0700 | 0 |
| 2020-03-19 11:31:11 | 20 MAR 20 106 PUT | buy | $0.1200 | 0 |
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