DailyPlay – Portfolio Review – November 14, 2024

DailyPlay Portfolio Review

Our Trades

ADBE – 36 DTE

Bullish Debit Spread – With a strong bounce off support at $500, ADBE is currently testing a key area at $525. Further upside is likely with the next target at $550.

AMZN – 64 DTE

Bearish Call Butterfly – AMZN broke out above its trading range with strong momentum and is now pulling back from recent highs. We will keep a close eye on this position.

DIS – 29 DTE

Bullish Debit Spread – Dis gapped higher from support at $100 toward the $110 area. Our bullish thesis on this trade remains in place.

IBM – 1 DTE

Bearish Credit Spread – This trade expires tomorrow while we are having some gains on our side.

INTC – 64 DTE

Bullish Calls – INTC pulled back to support at around $24, from where it is trading higher. The next upside target is at around $29.

QQQ – 64 DTE

Bullish Calls – QQQ is pulling back from recent highs with the $500 level as an area of support. We will keep a close eye on this position.

SQ – 8 DTE

Bullish Debit Spread – SQ experienced strong bullish momentum as it gain almost 20% in a few days. Further upside is likely after some consolidation and with 8 days left until expiration, we will keep this position open.

XLF – 64 DTE

Bullish Calls – XLF is currently grinding higher after it gapped to the upside. A break above the $50 psychological barrier could indicate continued upside.