DailyPlay Positions Outlook:
As oil prices start to stabilize, markets have found a better footing and resolved its negative divergence. This clears the way for a resumption of its bullish trend to retest $284 resistance again. As cities and states plan to reopen, optimism around that may lift markets higher. With VIX trading higher, investors have added protection despite markets rallying over the past week. We are protecting our profits in GILD as markets are sitting near a tipping point.
- GILD – 45% Gain: Short May 15, 2020 65/75 Put Verticals @ $2.45