Taking Profits (TSCO, HYG) – May 29th, 2020

DailyPlay Positions Outlook:

As markets struggle a bit after breaking above the $302 resistance, we see a higher risk of a short term pullback towards the 20D SMA around $295. Sectors that lead the rally this week including small caps pulled back today and liquidity shrunk to just 163 liquid names at the time. We are using this opportunity to take profits on our TSCO and HYG long positions. 

Closing Trades

  • TSCO – 135% Gain: Long Jun 26 108/120 Call Verticals @ $8.80
  • HYG – 3% Gain: Long Jul 17 75/80/84 RR Call Spread @ $1.70

Live Market Outlook – Friday 5/29 @ 9:00 AM EST

DailyPlay Trades & Performance

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