DailyPlay – Closing Trades (BA, BEAM) – September 14, 2022

Closing Trades

• BA – 122.47% Gain: Sell to Close 2 Contracts Sept 16, 2022 $160/$145 Call Verticals @ $10.79 Credit. DailyPlay Portfolio: By Closing the remaining 2 of the 4 Contracts, we will be receiving $2,158. We took partial profits for this trade on September 6 at a $7.52 Credit. Therefore, the average gain on this trade is 88.76% and the average cost basis to exit this trade is $9.16 Credit
• BEAM – 132.65% Gain: Sell to Close 2 Contracts Sept 16, 2022 $60/$50 Put Verticals @ $5.70 Credit. DailyPlay Portfolio: By Closing the remaining 2 Contracts, we will be receiving $1,140. We took partial profits for this trade on August 18 at a $4.30 Credit, and then again on August 30 at a $5.22 Credit. Therefore, the average gain on this trade is 99.18% and the average cost basis to exit this trade is $4.88 Credit.

Investment Rationale

Equities sold off heavily yesterday with SPX down over 4% and Nasdaq over 5% on the day after a higher than expected CPI print. The Daily SPX cloud model has now retraced back into the cloud and near $3900 support, if broken, we will likely see the next support at $3825. We are taking this opportunity to close out short positions that are now profitable and near expiration.

Close remaining BA position @ $10.79 Credit.

Closing remaining BEAM position @ $5.70 Credit.