DailyPlay – Closing Trade (WHR) – August 21, 2023

Closing Trade

• WHR – 54.24% Gain: Sell to Close 6 Contracts (or 100% of your Contracts) Sept 15th $145/$130 Put Vertical Spreads @ $9.10 Credit. DailyPlay Portfolio: By Closing all 6 Contracts, we will receive $5,460. We opened 3 contracts @ $6.70 Debit and another 3 contracts @ $5.85 Debit. Our average gain is therefore $282.50 per contract. Please note that this may be slightly different when we close this position after market opening.

Investment Rationale

With 3 bearish positions in our DailyPlay portfolio that have double the initial exposure and only 1 bullish position, it is time to consider reducing some of the size on the bearish side. While I believe there is still further downside risks, it is time to take exposure off the table for a more balanced portfolio. Both UPS and WHR are within a few percentage points of our downside targets so I’m going to choose to take profits on our WHR trade and let the UPS trade continue to run. I’ll be closing out the full position of WHR this morning after the open.