Closing Trades (MU) – March 26th, 2020
DailyPlay Positions Outlook:
Despite markets rallying strongly off of the $218 lows, we continue to believe there is further downside. While the unprecedented fiscal and monetary policy provides much-needed liquidity and suppressing violent swings, it does not cure the virus or the global economic devastation to come. Moreover, printing over 4 trillion dollars does not come without its costs. While we maintain our bearish view in the markets, we acknowledge that markets may trade higher temporarily on the back of some much needed good news.
• MU – 53% Loss: Long May 15, 2020 25/37.5 Put Verticals @ $2.23
Tony Zhang & Michael Khouw on OptionsPlay
Market Overview – Thursday March 26th @ 4:15 PM EST