Taking Profits (BMY, GM) – Feb 12th, 2020

DailyPlay Positions Outlook:

After a brief pullback, markets seem to be back in action for further gains. We continue to see this continuation higher as the start of market exhaustion before a pullback. Learn to protect your portfolio against a correction with our webinar on How to Hedge Your Portfolio Against a Correction. We are using this opportunity to take profits on BMY as it struggles near resistance and cut losses on GM after breaking back above resistance. 

Closing Trades

• BMY – 38% Gains: Long Mar 20, 2020 62.5/70 Call Verticals @ $4.40
• GM – 50% Loss: Long Mar 20, 2020 30/34 Put Verticals @ $0.67

Upcoming Event:

Entering & Managing Options Orders – Thursday, Feb 13th @ 4:15 PM EST – Book Your Spot

DailyPlay Trades & Performance

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