DailyPlay Taking Profits (IBB) – December 7th, 2021

Taking Profits

• IBB – 66% Gain: Short Dec 31, 2022 $154/$161 Call Vertical @ $0.85 Debit

DailyPlay Positions Outlook:

Equities remain resilient at key levels despite the uncertainty regarding the Omicron strain. SPY and QQQ managed to hold on to their key levels in the last two trading sessions and are expected to open higher as new data highlighting that the new variant only showcases mild symptoms in patients provides encouragement for investors. China also cut rates by 50 basis points which provided a boost for global equities as the 2nd largest economy in the world aims to bolster growth after a disappointing year. We take this opportunity to close out the bearish IBB position that has exceeded the take profit level after a strong decline yesterday.

Prakash Vijayanath
Analyst at OptionsPlay