Trade 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.