Closing Trades (IBB) – Aug 12th, 2020
DailyPlay Positions Outlook:
The S&P 500 has taken a pause as fiscal stimulus initiatives are at a stalemate in Congress. Sectors in retreat have been broad as interest rates spark a rally, denting higher yielding sectors alongside higher beta sectors. Over the next few trading sessions, we will attempt to answer the question that with fixed income markets selling-off, does this provide another buy the dip opportunity or can this spark a larger selloff in equities?
We are reducing our long exposure in IBB at the moment and evaluating our long only portfolio holdings.
- IBB – 51% Loss: Short Sep 4, 135/140 Put Verticals @ $3.50 Debit