AMAT - Apr.'18 Exp. Put Vertical Credit SpreadTrade details:
47/42 Put Vertical Credit Spread @ $0.98
Prob. of Max Profit = 69.49%
Prob. of Max Loss = 13.53%
Break-even @ $46.02
114 D.T.E.
Trade plan:
Similar bias as NVDA trade (check it out below).
Entry by oversold + support/resistance analysis
Expecting $48.00 support level to survive possible test before earnings report in Feb.'18 for an uptrend continuation before Apr.'18 expiration.
Using longer duration for some more premium + allow for adjustment if trade goes very wrong.
Expecting spread to expire worthless but will take early profit + place new trade with same bias around earnings if IV swells premium up enough to give an edge.