Taking Profits (IBB) – July 16th, 2020
DailyPlay Positions Outlook:
Markets have now pushed back above the major $317 resistance level on optimism of a COVID-19 vaccine from Moderna in 2020. As more than half a dozen companies race to complete large scale human trials, markets are pricing in a resumption to normal faster than expected. As market remain below a key $323 resistance level, we use this opportunity to take profits on our IBB position.
- IBB – 60% Gain: Short Aug 7 130/137 Put Verticals @ $1.00 Debit