DailyPlay Adjustment Trade (C) – Feb 23, 2022

Adjusting Trade

• C: 21% Gain: Roll short leg (Feb 25, 2022 $68 Call) as follows:
  • Buy to close Feb 25, 2022 $68 Call for $0.04 Debit. 
  • Sell to open Mar 18, 2022 $68 Call for $0.58 Credit.

This reduces the cost basis of the overall C position from $3.69 to  $3.15. By selling OTM calls against the long C 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 C Call Diagonal Trade, this signal should only be used if you are already in the C trade that was opened on January 25th, 2022.