DailyPlay Taking Profits – COUP – January 21st, 2022

Taking Profits

• COUP – 49% Gain: Feb 18, 2022 $145/$155 Call Verticals​ @ $1.90 Debit

DailyPlay Positions Outlook

The flight to safety continues as equities continue to sell off and sink past major support levels. The VIX is showing signs of another spike to the 30 level as systemic risk continues to pick up. While disappointing banking earnings was the catalyst for the recent decline in equities, concerns over inflation and consumer spending still remain. This has impacted the cyclical sectors more than most which continue to add pressure to the major indices. We take this opportunity to close the bearish COUP trade ahead of the weekend for a 49% gain. 

Prakash Vijayanath

Analyst at OptionsPlay