DailyPlay Positions Outlook:

Markets have now pushed back above the major $317 resistance level on optimism of a COVID-19 vaccine from Moderna in 2020. As more than half a dozen companies race to complete large scale human trials, markets are pricing in a resumption to normal faster than expected. As market remain below a key $323 resistance level, we use this opportunity to take profits on our IBB position. 

Closing Trades

• IBB – 60% Gain: Short Aug 7 130/137 Put Verticals @ $1.00 Debit