DailyPlay Closing Trade (TJX) – March 9, 2022

Closing Trade

• TJX:64% Loss: Sell to close Apr 14, 2022 $65/$72.5 Call Verticals @ $0.95 Credit. 

Equities experienced a quick reversal yesterday on news regarding a possible ceasefire between Russia and Ukraine, however, the major indices reversed lower to end the day in the red. SPY and QQQ are set to open higher this morning but still remain below the $428 and $341 key levels respectively. We take this opportunity to close the TJX position that broke below the $63 major support level recently, thus invalidating our thesis.