DailyPlay – Closing Trade (BMY) – March 22, 2024

Closing Trade

• BMY – 51.48% Loss: Sell to Close 10 Contracts (or 100% of your Contracts) May 17th $52.50/$57.50 Call Vertical Spreads @ $1.15 Credit. DailyPlay Portfolio: By Closing all 10 Contracts, we will receive $1,150. We initially opened these 10 Contracts on March 11 @ $2.05 Debit. Our average loss, therefore, is $90 per contract, translating to less than 1% of our total Portfolio.

Investment Rationale

Despite a breakout above $53 on strong volume, BMY has pulled back into its trading range and we have to accept that the timing on the trade just didn’t work out, we’re going to close out this trade and focus on managing our winners with GOOGL and FDX.