DailyPlay Closing Trades – LYFT – January 20th, 2022

Closing Trades

• LYFT – 91% Loss: Short Feb 18, 2022 $40/$45 Put Vertical @ $4.10 Debit

DailyPlay Positions Outlook

The SPY has now broken below the key $453 level which is concerning as the next support level is near the $435 level – a significant decline should the sell-off continue. The main theme in markets remains to be the rotation out of risk and into safer value stocks with the Growth/Value ratio chart showing growing strength in value relative to growth. For this reason, we cut losses on our bullish LYFT position that has declined below the $37 support level. 

Prakash Vijayanath

Analyst at OptionsPlay