DailyPlay – Closing Trade (PLTR) – December 21, 2023

Closing Trade

• PLTR – 59.40% Loss: Buy to Close 12 Contracts (or 100% of your Contracts) Jan 19th $20/$17 Put Vertical Spreads @ $2.12 Debit. DailyPlay Portfolio: By Closing all 12 Contracts, we will be paying $2,544. We initially opened these 12 Contracts on Nov 28 @ $1.33 Credit. Our average loss, therefore, is $79 per contract. 

Investment Rationale

With the S&P500 and Nasdaq-100 pulling back from recent highs, PLTR has also pulled back thereby canceling our bullish thesis on this trade. PLTR broke below support at $18 on the back of the larger pullback. We will therefore close this position at 59.40% loss.