DailyPlay – Closing Trades & Portfolio Review – October 4, 2024

Closing Trades

• XOM – 71% loss: Buy to Close 6 Contracts (or 100% of your Contracts) Nov 1st $120/$125 Call Vertical Spreads @ $2.65 Debit. DailyPlay Portfolio:  By Closing all 6 Contracts, we will pay $1,584. We initially opened these 6 Contracts on September 24 @ $1.54 Credit. This trade had a loss of $1.11 Debit per Contract.

• XOM – 65% gain: Sell to Close 6 Contracts (or 100% of your Contracts) Nov 1st $125 Calls @ $2.66 Credit. DailyPlay Portfolio:  By Closing all 6 Contracts, we will receive $1,596. We initially opened these 6 Contracts on October 2 @ $1.61 Debit. This trade generated $1.05 Credit per Contract. The combination of both XOM trades had a minimal loss of $0.06 Debit per Contract.

DailyPlay Portfolio Review

Our Trades

AAPL – 21 DTE

Bearish Credit Spread – Holding below key $230 resistance level, we’re looking for a continuation lower towards its $215 support level.

ABBV – 28 DTE

Bearish Puts – If ABBV breaks above the $200 resistance, it would warrants closing this position. For now we are closely monitoring this trade.

ALL – 14 DTE

Bullish Credit Spread – ALL is trading rangebound above support at $185. We will keep a close eye on this trade to see if support holds.

MMM – 14 DTE

Bearish Debit Spread – We’re looking for MMM to hold below $135 to reach our $122 downside target.

SHOP – 14 DTE

Bullish Calendar Spread – SHOP remains bullish as support at $76 is holding up, and we’re looking for a breakout towards the $85 target.