DailyPlay – Portfolio Review – April 24, 2024

DailyPlay Portfolio Review

Investment Rationale

With equities and bonds both rally this week, we have seen the fear that crept into the markets last week recede. VIX is now below 16% and 10-year yields retreat below 4.6%. The question remains if this rally has legs or if sellers will start regaining control as we approach the $5100-$5150 area. As a result, we will not add additional positions to our portfolio today and review the outstanding positions and how we’re managing each one. 

Our Trades

ADBE – 37 DTE

Bullish Credit Spread – Nice bounce since we’ve entered the trade, with a lot more room to our upside targets, we will look to roll this as ADBE continues higher. 

DELL – 58 DTE

Bearish Debit Spread – After an initial selloff, it has returned to our breakdown level of $120. We are monitoring this position for an opportunity to close if our thesis does not prove to be correct. 

NKE – 58 DTE

Bullish Debit Spread – Small move in the direction of our trade so far, with 58 days left, we will continue to hold and look for upside. 

PDD – 58 DTE

Bullish Debit Spread – Big rally over the last 2 trading sessions has put this position back in the green, our upside target remains $140. Pullbacks on this rally are opportunities to add more exposure to this trade. 

PYPL – 58 DTE

Bullish Debit Spread – We just entered this trade yesterday, with 58 days left to go, we have a lot of time left for this trade to potentially work out.