DailyPlay Adjustment (FDX) – February 1st, 2022

FDX Adjustment

For today’s DailyPlay, are adjusting our open FDX position. This position was opened on December 28th, 2021 as a Call Diagonal trade. The short leg for this trade has since expired worthless which means that the cost basis of the long April $250 strike has reduced from $18.85 to $16.42. As the short leg has expired, we will be selling another OTM call to further offset the overall cost and breakeven of the bullish FDX position:

• Sell to open Feb 25, 2022 $270 Call

Please note that this is not an open signal for the FDX Call Diagonal Trade, this signal should only be used if you are already in the FDX trade that was opened on December 28th, 2021.