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Slay Trader | Trading Experts | SPX Trades | Stock Trading

ENPH trade using the screener

 ENPH trade

145/140 Put Spread
Expiry: May 5th
Premium: $540
Max Loss: $9,360
Portfolio Margin: $4,917
Qty: 20

1% screening limit strike: 144.90

ENPH is screened as oversold at Level 1 and almost oversold at Level 2 today in the screener. Since the trade uses 1% screening limit, it is a higher risk trade so used defined loss and appropriate position sizing. ENPH got hammered after earnings which looks like an overreaction.

In the screener data in the first column, we have sets of 3 rows that have Level 1, Level 2, and Data Since labels. The Data Since rows describe the date at which valid data is available for its computations.

Next are the rows for Level 1 and Level 2. Let\’s look at Level 1 first. In the rows for Level 1, a number greater than or equal to 1 indicates that on a price change % versus time basis, the symbol is overbought because it moved farther to the upside and faster than 99% of all other equivalent time periods in its history. These cells are highlighted light blue in the screener data file.

In the rows for Level 1, a number less or equal to zero indicates that on a price change % versus time basis, the symbol is oversold because it moved farther to the downside and faster than 99% of all other equivalent time periods in its history. These cells are highlighted light red in the screener data file.

Level 2 is similar to Level 1 except that instead of 99% of the history, it is 100% of the history implying the stock/ETF/index has never moved that far that fast for any equivalent period of time in my data set. Yellow highlighted cells simply highlight symbols that are near overbought or oversold on a Level 1 or Level 2 basis.

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