DailyPlay – Closing Trade (DELL) – May 9, 2024

Investment Rationale

As AI-related stocks such as META, ARM, and PLTR fall on the back of investor concerns, DELL continues to buck this trend and we must admit that our thesis and timing were off on this trade. We are going to take this opportunity to close this out at our Stop Loss level and ensure that we keep our losses in check. 

Closing Trade

• DELL – 53.62% loss: Sell to Close 3 Contracts (or 100% of your Contracts) June 21st $120/$100 Put Vertical Spreads @ $3.78 Credit. DailyPlay Portfolio: By Closing all 3 Contracts, we will receive $1,134. We opened these 3 Contracts on April 18 @ $8.15 Debit. The average loss, therefore, is $437.