DailyPlay Taking Profits (WFC) – November 2nd, 2021

View Closing Trades

Closing Trades

• WFC – 48% Gain: Short Nov 26, 2021 47/50 Put Verticals @ $0.55 Debit

DailyPlay Positions Outlook:

Equities continue their charge higher with SPY and QQQ both touching all-time highs yesterday once again. We notice a slight narrowing in leadership compared to recent weeks. While this is no cause for concern yet, continued narrowing leadership does pose more downside risks. We are taking this opportunity to take profits on our WFC bullish position as it has reached our take profit level after breaking out of resistance. 

Prakash Vijayanath
Analyst at OptionsPlay