DailyPlay – Closing Trade (MSFT) – October 25, 2023

Closing Trade

• MSFT – 52.47% Loss: Buy to Close 2 Contracts (or 100% of your Contracts) Nov 17th $320/$340 Call Vertical Spreads @ $11.13 Debit. DailyPlay Portfolio: By Closing both Contracts, we will be paying $2,226. We initially opened these 2 Contracts on Oct 2 @ $7.30 Credit. Our average loss, therefore, is $383 per contract. 

Investment Rationale

With tech earnings rolling in, 3 of our positions reported earnings last night. MSFT, GOOGL and SNAP. Both MSFT and GOOGL unfortunately have not gone our way, while SNAP initially was up 10% overnight is now flat at the open. We will be closing MSFT at the open today and will monitor GOOGL and SNAP for potential opportunities to exit the trades with either minimal loss or a small gain.