DailyPlay – Portfolio Review – July 22, 2024

DailyPlay Portfolio Review

Investment Rationale

Equity markets are sitting just above a major support level. We are waiting to see if these levels hold this week before entering any new positions to our DailyPlay portfolio. In the meantime our positions are net short theta so time is working in our favor as we hold our positions and wait for confirmation that bulls can maintain control this week.

Our Trades

AZN – 25 DTE

Bullish Credit Spread – AZN bounced on last week’s lows placing this trade back in positive territory.

GOOGL – 39 DTE

Bullish Credit Spread – Last week’s low has held as support which could lead to a bounce off this level.

LULU – 25 DTE

Bullish Debit Spread – LULU continued to slip but is still in an area of support. The next day or two would determine if support holds.

MS – 18 DTE

Bullish Credit Spread – MS had a strong move lower on Friday and is now trading around the $100 support. A bounce off this area is expected to warrant holding onto this position.

PYPL – 11 DTE

Bullish Credit Spread – We will keep a close eye on PYPL as we are 11 days out from expiry.

TSM – 32 DTE

Bullish Credit Spread – Currently trading around the Friday low of $165, which is an area of support. A bounce higher off this level is needed to remain in this trade.