Closing Trades (DIS) – October 12th, 2021

Closing Trades

• DIS – 41% Loss: Long Nov 5, 2021/Jan 21, 2022 $185/$195 Call Diagonal @ $4.55 Debit

DailyPlay Positions Outlook:

Equity markets have now confirmed a bearish shift to momentum and trends. Price action remains weak with a strong open yesterday, but closing at session lows. With SPY and QQQ both being rejected at the 50D SMA and moving averages sloping lower, trends and momentum both now have bearish confirmation. We are taking this opportunity to reduce our long exposure in sectors at risk such as Consumer Discretionary with Disney (DIS)