DailyPlay Taking Profits (TLT) – December 30th, 2021

Taking Profits

• TLT – 52% Gain: Short Jan 28, 2022 $150/$155 Call Vertical @ $0.80 Debit

DailyPlay Positions Outlook

We end 2021 on a positive note by closing our bearish TLT position for a 52% profit after price gapped significantly lower yesterday. Momentum in equities this week has been strong with the major indices breaking above key resistance levels. While we do not that short-term momentum is overbought, a pullback in the major indices will provide better bullish opportunities heading into 2022. There has also been some rotation out of the defensive sectors that have been providing leadership in recent weeks which indicates more fuel for a further rally as growth has found some performance relative to value. 

Prakash Vijayanath

Analyst at OptionsPlay