DailyPlay – Portfolio Review – March 7, 2024

Closing Trade

• GE – 112.46% Loss: Buy to Close 4 Contracts (or 100% of your Contracts) March 28th $149/$157.50 Call Vertical Spreads @ $6.65 Debit. DailyPlay Portfolio: By Closing all 4 Contracts, we will be paying $2,660. We initially opened these 4 Contracts on Feb 21 @ $3.13 Credit. Our average loss, therefore, is $352 per contract. 

DailyPlay Portfolio Review

Our Trades

AAPL

Bullish Debit Spread. We entered this position yesterday on the back of a recent selloff and favorable risk/reward. If the outlook on China improves, expect to see AAPL shares recover from this selloff.  

C

Bullish Calls. Citigroup continues to rally on the back of Chairman Powell’s testimony on rolling back proposed capital requirement changes for banks. Looking for a breakout above $57 to continue. 

GE

Bearish Credit Spread. Triggered our stop loss and we are closing out this trade, momentum simply was too strong to fade the strength. 

GOOGL

Bullish Debit Spread. Just at our stop loss level, will monitor this position for a potential opportunity to close out over the next couple of trading sessions. 

META

Bearish Debit Spread. We just entered this trade to fade the strength in META currently near breakeven and will monitor this position.