As of now SQ waitlisted me for the earlier TLV-TRA flight, and confirmed for the later flight. I just got off the phone with LH rep. and he told me as long as I am on the waitlist, I can show up at the airport for the earlier flight, and if there is space on the earlier flight, then I can get on.
Just want to confirm that, this all makes sense, being that i never did this before.