DailyPlay – Portfolio Review – November 25, 2024

DailyPlay Portfolio Review

Our Trades

ADBE – 25 DTE

Bullish Debit Spread – Adobe Inc. (ADBE) remains volatile, recently bouncing strongly off the $500 support level. The $525 resistance has been a struggle. The trade is currently profitable. With an expiration beyond the December earnings report, we have the option to close, hold, or potentially roll up the position.

ADI – 4 DTE

Bearish Debit Spread – This week, we bought to close the 202.50 Nov 22nd option for a few cents and rolled into a short Nov 29th put at the same strike. This adjustment captured a significant amount of implied volatility premium in the Nov 29th put ahead of earnings, positioning us in a long put vertical spread for the announcement on Tuesday, November 26th. Watch closely and be ready to close on the morning of the announcement.

AMZN – 53 DTE

Bullish Debit Spread – Amazon.com Inc. (AMZN) recently reported strong earnings. Although the stock has experienced a pullback, we remain bullish and will continue holding the position as the holiday shopping season gets underway.

AZN – 25 DTE

Bullish Debit Spread – AZN stock is building momentum to the upside, gaining 4% last week. We will stay the course.

INTC – 53 DTE

Bullish Calls – Staying the course with Intel (INTC) has the possibility for further upside, with our target set at $30 for the stock.

LULU – 11 DTE

Bullish Debit Spread – We currently have a nice profit, as the stock is above our short strike in the bull call vertical spread. While we could close the position soon, time decay works in our favor, but an increase in implied volatility is a concern with the company’s earnings announcement scheduled for December 5th.

QQQ – 53 DTE

Bullish Calls – We still have 54 DTE and plan to stay the course, as this is a longer-term outlook we have on this ETF.

SHOP – 53 DTE

Bullish Debit Spread – Shopify (SHOP) – We are down on this position, but we plan to stay the course for now.

XLF – 53 DTE

Bullish Calls – Financial Select Sector SPDR ETF (XLF) – We established a long call position in the financial sector and plan to stay the course for now.