DailyPlay Closing & Adjusting Trade (TGT, FB) – Feb 15, 2022

Adjusting Trade

• FB: 35% Loss: Roll short leg (Mar 18 2022 $265 Call) as follows:
  • Buy to close Mar 18, 2022 $265 Call for $0.97 Debit. 
  • Sell to open Mar 18, 2022 $245 Call for $2.73 Credit.

This reduces the cost basis of the overall FB position from $25.44 to  $23.68 By selling OTM calls against the long FB call, we are consistently reducing the cost basis to provide a better breakeven price. Please note that this is not an open signal for the FB Call Diagonal Trade, this signal should only be used if you are already in the FB trade that was opened on February 7th, 2022.

Closing Trade

• TGT: 54% Loss: Sell to close Mar 4, 2022 $220/$235 Call Vertical @ $2.34 Credit.