DailyPlay – Opening Trade (GM) – April 26, 2024
GM Bullish Opening Trade Signal Investment Rationale The...
Read MoreROKU – 53.16% Loss: Buy to Close 3 Contracts (or 100% of your Contracts) Jan 26th $106/$93 Put Vertical Spreads @ $8.47 Debit. DailyPlay Portfolio: By Closing all 3 Contracts, we will be paying $2,541. We initially opened these 3 Contracts on Dec 11 @ $5.53 Credit. Our average loss, therefore, is $294 per contract.
Equities continue to rally now flirting with all time high territory for both the S&P and Nasdaq-100 as we approach the end of the year. With a dovish Fed, sentiment is bullish heading into 2024 as 3 interest rate cuts are now expected instead of the 2 cuts that markets were pricing in over recent weeks. Futures move lower this morning as FedEx cuts their annual revenue forecast. We will monitor any pullbacks for additional buying opportunities.
ROKU broke below the $100 level and invalidated our bullish thesis on the stock. Therefore, we will be closing this position for a 53% loss.
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