DailyPlay – Portfolio Review & Closing Trades (CSX, FTNT) – April 16, 2024

Closing Trades

• CSX- 63.86% Gain: Sell to Close 31 Contracts (or 100% of your Contracts) April 26th $37/$35 Put Vertical Spreads @ $1.23 Credit. DailyPlay Portfolio: By Closing all 31 Contracts, we will receive $3,813. We opened these 31 Contracts on March 26 @ $0.75 Debit. The average gain, therefore, is $48 per contract, with a total gain of around 1.5% of our Portfolio.
• FTNT – 62.35% loss: Sell to Close 6 Contracts (or 100% of your Contracts) May 17th $70/$80 Call Vertical Spreads @ $1.54 Credit. DailyPlay Portfolio: By Closing all 6 Contracts, we will receive $924. We opened these 6 Contracts on April 4 @ $4.09 Debit. The average loss, therefore, is $255 per contract, with a total loss of around 1.5% of our Portfolio.

DailyPlay Portfolio Review

Investment Rationale

As a reminder, the goal of our DailyPlay signals is to teach the best practices for maximizing every idea for profitability. We strive to exemplify how professional traders reach profitability through these ideas. Because even the best ideas will underperform if losses are not cut quickly and profits are taken too soon. As I review the DailyPlay portfolio there are multiple positions that require managing today. As CSX approaches our $35 lower strike price, it is time to start taking profits with only 10 days left to expiration. We are also going to close FTNT, which has triggered a stop loss level. 

Our Trades

AAPL – 31 DTE

Bullish Debit Spread – Uptrend remains intact with support at $169. If we break below $169, we will look to cut losses, otherwise we are targeting $185 initially to the upside. 

CSX – 10 DTE

Bearish Debit Spread – We are closing this trade today to gain 1.5% on our Portfolio.

FTNT – 31 DTE

Bullish Debit Spread – FTNT broke below a level of support which invalidates our bullish thesis on this trade. As such we are closing this position today.

PDD – 66 DTE

Bullish Debit Spread – Still holding onto support at around $114. We will continue to monitor this trade over the next few days.