Closing Trades (GE, NOC) – October 6th, 2021

GE – 102% Loss: Short Oct 29, 2021 $97.5/$106 Call Vertical​  @ $5.95 Debit

NOC – 70% Loss: Short Oct 29, 2021 $350/$365 Call Vertical​  @ $11.20 Debit

DailyPlay Positions Outlook:

While the markets have sold off over the past few weeks, even though we identified two weak stocks that had broken support, they have both reversed higher despite the market selloff. We are taking this opportunity to close out both positions and manage our remaining open positions at this time. Our focus at this time we focus our attention on interest rates and the developing situation in China to provide our equity outlook.

Tony Zhang
Chief Strategist & CNBC Contributor