DailyPlay Partial Closing Trade (TAN) Closing Trade (DE) July 29, 2022

Partial Closing Trade

• TAN -69.31% Gain: Buy to Close 1 Contract Aug 5, 2022 $70.50/$61 Put Verticals @ $0.85 Debit. DailyPlay Portfolio: By closing 1 of 3 Contracts, we will be paying $85. 

Closing Trade

• DE -99.46% Loss: Buy to Close 2 Contracts Aug 12, 2022 $295/$315 Call Verticals @ $18.35 Debit. DailyPlay Portfolio: By closing 2 of the 2 Contracts, we will be paying $3,670.

Investment Rationale

We’ve just reviewed all open DP positions in our morning webinar. Two charts make me want to adjust positioning:

We are short 3 TAN Aug. 12th $70.5/$61 put spread. With the stock now on a daily +13 and against the stop-out level from a prior +13, let’s take one of the three spreads off today to lock in a 90% profit on that contract.

TAN – Daily

We are short 2 Aug. 12^th DE $295/$315 call spread. We’ve lost the same amount equal to the premium we collected, and there’s less than a 10% chance this comes back to work out. Thus, let’s just take our loss before it gets worse and exit this spread today.

DE – Daily