Closing Trade (BAC, NFLX) – Thursday, Nov 7th, 2019

DailyPlay Positions Outlook:

The S&P 500 (SPY) closed at all-time highs today after breaking above the major resistance level of $302.50 last week. We expect this to clear the way for markets to move higher as corporate profits look strong, trade wars move towards resolution and economic data look stronger than expected. We are taking this opportunity to reduce our short exposure (NFLX) and take profits on stocks that have reached overbought (BAC). 

Closing Trades

• BAC – 97% Gain: Long BAC Dec 32 Call @ $1.39
• NFLX – 74% Loss: Long Nov 22 230/282.5 Put Verticals @ $4.42

DailyPlay Trades & Performance

New! Track the performance and history of our DailyPlay trades with our new spreadsheet!

DailyPlay Tracking

Learn to Trade Options:

Maximizing Profits with Debit Vertical Spreads – Thurs @ Nov 7th – 4:15 PM EST – Register Now