DailyPlay – Closing Trade (FDX) – December 5, 2023

Closing Trade

• FDX – 64.37% Loss: Sell to Close 4 Contracts (or 100% of your Contracts) Jan 19th $240/$220 Put Vertical Spreads @ $1.86 Credit. DailyPlay Portfolio: By Closing all 4 Contracts, we will receive $744. We initially opened these 4 Contracts on Nov 6 @ $5.18 Debit. Our average loss, therefore, is $332 per contract. 

Investment Rationale

As equities continued to rally, FDX hit our stop loss level of 50% loss to the premium paid. As such, we will close this position and continue to monitor the market for other opportunities. As the S&P500 has hit a major area of resistance, we will see if a pullback to lower levels will open up new trading opportunities.