DailyPlay – Opening Trade (GOOGL) – March 14, 2024

GOOGL Bullish Opening Trade Signal

Investment Rationale

With equity markets continuing to march higher, our GOOGL position has continued to work well. We are going to take this opportunity to add another 2% of our portfolio’s value in exposure to this trade. This is following our DailyPlay methodology to help you become a profitable trader by focusing on turning small wins into potentially much larger winners. We achieve this by adding exposure when it turns out that our market thesis is correct.  

GOOGL – Daily

Trade Details

Strategy Details

Strategy: Long Call Vertical Spread

Direction: Bullish Debit Spread

Details: Buy to Open 3 Contracts April 5th $135/$150 Call Vertical Spreads @ $6.07 Debit.

Total Risk: This trade has a max risk of $1,821 (2 Contracts x $607) based on a hypothetical $100,000 portfolio risking 2%. We suggest using 2% of your portfolio value and divide it by $607 to select the # contracts for your portfolio.

Counter Trend Signal: This is a bullish trade on a stock that has recently bounced higher off support.

1M/6M Trends: Neutral/Neutral

Relative Strength: 3/10

OptionsPlay Score: 96

Stop Loss: @ $3.04 Credit. (50% loss of premium paid)

View GOOGL Trade

Entering the Trade

Use the following details to enter the trade on your trading platform. Please note that whenever there is a multi-leg option strategy, it should be entered as a single trade. 

Please note that these prices are based on Wednesday’s closing prices. Should the underlying move significantly during the pre-market hours, we will likely adjust the strikes and prices to reflect a more accurate trade entry. 

View GOOGL Trade