DailyPlay – Closing Trade (PYPL) – August 1, 2024

Investment Rationale

With PYPL reporting better than expected earnings, we have now earned more than 98% of the total max gain of the trade. Let’s therefore close this trade today.

Closing Trades

• PYPL – 98.71% gain: Buy to Close 16 Contracts (or 100% of your Contracts) Aug 2nd $60/$56 Put Vertical Spreads @ $0.02 Debit. 
  DailyPlay Portfolio:  By Closing all 16 Contracts, we will be paying $32. We initially opened 8 Contracts on June 21 @ $1.57 Credit and then another 8 Contracts on July 12 @ $1.54 Credit. Our average gain, therefore is $153.50 per Contract with a total gain of $2,456 which is a 2.5% gain on our Portfolio.