DailyPlay – Closing Trade (C) – March 15, 2024

Closing Trade

• C – 64.69% Gain: Sell to Close 11 Contracts (or 100% of your Contracts) April 19th $52.50 Calls @ $5.33 Credit. DailyPlay Portfolio: By Closing all 11 Contracts, we will receive $5,863. We initially opened 7 Contracts on February 14 @ $2.80 Debit, and then 4 Contracts on February 16 @ $4.00 Debit. Our average gain, therefore, is $209 per contract. 

Investment Rationale

Banking stocks are starting to show signs of underperformance as 10-year yields rise to 4.3% and C’s momentum continues to deteriorate as it prints new relative highs. This increases the risk of a larger pullback and I believe it is time to take profits on this C trade.  

C – Daily