DailyPlay – Closing Trade (AAPL) – March 19, 2024

Closing Trade

• AAPL – 31.15% Gain: Sell to Close 10 Contracts (or 100% of your Contracts) April 5th $170/$180 Call Vertical Spreads @ $4.69 Credit. DailyPlay Portfolio: By Closing all 10 Contracts, we will receive $4,690. We initially opened 6 Contracts on March 6 @ $3.28 Debit, and then 4 Contracts on March 13 @ $4.01 Debit. The average gain, therefore, is $112 per contract with a total gain of $1,120 on our Portfolio.

Investment Rationale

After a strong open on the back of AI rumors, price action was extremely weak all session and closed at the lows. This type of price action is not favorable to our long position with positive time decay. As we approach the last 2 week before expiration I believe now is time to close out our AAPL position today.